Desjardins Cuts BCE (TSE:BCE) Price Target to C$41.50

BCE (TSE:BCE) (NYSE:BCE) had its target price dropped by Desjardins from C$42.00 to C$41.50 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 24.92% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. TD Securities cut shares of BCE from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$41.00 to C$37.00 in a research note on Thursday, April 2nd. JPMorgan Chase & Co. increased their price objective on BCE from C$33.00 to C$37.00 in a report on Friday, February 6th. National Bank Financial increased their price objective on BCE from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Barclays raised BCE from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada increased their price objective on BCE from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$37.25.

BCE Stock Down 1.6%

Shares of BCE traded down C$0.55 during mid-day trading on Tuesday, hitting C$33.22. 3,198,234 shares of the company’s stock were exchanged, compared to its average volume of 3,704,074. The company has a market cap of C$30.98 billion, a PE ratio of 4.89, a P/E/G ratio of 4.67 and a beta of 0.34. BCE has a 52 week low of C$28.73 and a 52 week high of C$36.25. The company has a 50-day simple moving average of C$35.18 and a 200 day simple moving average of C$33.51. The company has a debt-to-equity ratio of 179.16, a current ratio of 0.58 and a quick ratio of 0.43.

BCE (TSE:BCE) (NYSE:BCE) last issued its quarterly earnings results on Friday, March 6th. The company reported C$0.69 earnings per share for the quarter. The company had revenue of C$6.40 billion during the quarter. BCE had a net margin of 26.40% and a return on equity of 31.99%. On average, research analysts forecast 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.