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

BCE (TSE:BCE) (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.

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) (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

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.