Canaccord Genuity Group Issues Positive Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its target price lifted by equities researchers at Canaccord Genuity Group from C$33.00 to C$33.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 5.02% from the company’s current price.

A number of other analysts also recently commented on BCE. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating and cut their price objective for the company from C$35.00 to C$29.00 in a report on Friday. Scotiabank cut their price target on shares of BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. Royal Bank of Canada lowered their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 18th. Canaccord Genuity Group cut their price objective on BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. Finally, Barclays lowered shares of BCE from an “equal weight” rating to an “underperform” rating and decreased their price objective for the stock from C$41.00 to C$30.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$40.42.

BCE Price Performance

Shares of BCE stock traded down C$1.80 on Friday, hitting C$31.90. The company’s stock had a trading volume of 5,331,610 shares, compared to its average volume of 3,993,007. The company has a market capitalization of C$29.10 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. BCE has a 1 year low of C$31.43 and a 1 year high of C$52.01. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65. The firm has a fifty day moving average price of C$34.53 and a 200-day moving average price of C$41.31.

BCE (TSE:BCE) (NYSE:BCE) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.75 EPS for the quarter, missing the consensus estimate of C$0.77 by C($0.02). BCE had a return on equity of 10.63% and a net margin of 8.75%. During the same quarter in the previous year, the business posted $0.81 earnings per share. As a group, sell-side analysts anticipate that BCE will post 3.1120864 earnings per share for the current fiscal year.

BCE Company Profile

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.