Scotiabank Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

by · The Markets Daily

BCE (TSE:BCE – Get Free Report) (NYSE:BCE) had its price objective lowered by investment analysts at Scotiabank from C$41.50 to C$40.75 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 23.26% from the stock’s current price.

BCE has been the subject of a number of other reports. Cibc Captl Mkts upgraded shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Desjardins lifted their target price on BCE from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Royal Bank Of Canada raised BCE from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$35.00 to C$47.00 in a report on Wednesday, October 15th. CIBC upgraded BCE from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, December 9th. Finally, TD Securities decreased their target price on BCE from C$39.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, BCE currently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.25.

Read Our Latest Analysis on BCE

BCE Stock Up 0.1%

BCE stock traded up C$0.04 during mid-day trading on Monday, hitting C$33.06. The company had a trading volume of 1,026,716 shares, compared to its average volume of 3,554,195. BCE has a 12 month low of C$28.73 and a 12 month high of C$36.59. The company has a market capitalization of C$30.83 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The stock’s 50 day moving average price is C$32.24 and its two-hundred day moving average price is C$32.74. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73.

BCE (TSE:BCE – Get Free Report) (NYSE:BCE) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.79 earnings per share (EPS) for the quarter. The firm had revenue of C$6.05 billion during the quarter. BCE had a return on equity of 1.39% and a net margin of 1.10%. As a group, sell-side analysts anticipate that BCE will post 3.1120864 earnings per share for the current fiscal year.

BCE Company Profile

(Get Free Report)

Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.

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