Cormark Cuts BCE (TSE:BCE) Price Target to C$53.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective reduced by analysts at Cormark from C$58.00 to C$53.00 in a note issued to investors on Thursday, BayStreet.CA reports. Cormark’s price objective would suggest a potential upside of 19.56% from the stock’s current price.

Several other equities research analysts have also recently commented on BCE. Desjardins lowered their price target on BCE from C$58.00 to C$55.00 and set a “hold” rating for the company in a research note on Friday, February 9th. National Bankshares lowered their price target on BCE from C$55.00 to C$53.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. TD Securities lowered their price target on BCE from C$55.00 to C$51.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Barclays decreased their target price on BCE from C$52.00 to C$48.00 in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada decreased their target price on BCE from C$57.00 to C$54.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$52.48.

BCE Stock Down 0.2 %

TSE:BCE traded down C$0.09 on Thursday, hitting C$44.33. 798,848 shares of the company’s stock traded hands, compared to its average volume of 2,958,956. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 175.98. BCE has a 1 year low of C$43.96 and a 1 year high of C$65.66. The firm has a 50-day moving average price of C$47.78 and a 200-day moving average price of C$51.34. The company has a market cap of C$40.44 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44.

BCE (TSE:BCE) (NYSE:BCE) last announced its quarterly earnings results on Thursday, February 8th. The company reported C$0.76 EPS for the quarter, beating the consensus estimate of C$0.73 by C$0.03. The business had revenue of C$6.47 billion during the quarter, compared to analysts’ expectations of C$6.48 billion. BCE had a return on equity of 10.81% and a net margin of 9.17%. Equities analysts anticipate that BCE will post 3.0377747 EPS for the current fiscal year.

About BCE

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.