BCE (BCE) Rating Lowered to Hold at Desjardins

BCE (BCE) Rating Lowered to Hold at Desjardins

BCE (TSE:BCE) (NYSE:BCE) was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$65.00 price objective on the stock, down from their prior price objective of C$66.00. Desjardins’ price target would indicate a potential upside of 8.95% from the company’s previous close.

A number of other research firms have also weighed in on BCE. Royal Bank of Canada raised their price objective on shares of BCE from C$60.00 to C$61.00 in a research note on Tuesday, April 9th. Morgan Stanley raised their price objective on shares of BCE from C$60.00 to C$63.00 in a research note on Thursday, March 14th. TD Securities raised their price objective on shares of BCE from C$56.00 to C$58.00 and gave the company a “hold” rating in a research note on Friday, February 8th. Cormark raised their price objective on shares of BCE from C$59.00 to C$61.00 in a research note on Friday, February 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BCE from C$59.00 to C$62.00 in a research note on Monday, February 11th. Six equities research analysts have rated the stock with a hold rating, BCE presently has a consensus rating of “Hold” and an average target price of C$60.90.

Shares of BCE stock traded down C$0.12 during trading hours on Friday, reaching C$59.66. The company’s stock had a trading volume of 2,223,200 shares, compared to its average volume of 1,898,231. BCE has a one year low of C$50.72 and a one year high of C$60.99. The firm has a market capitalization of $53.60 billion and a price-to-earnings ratio of 18.70. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 133.90.

BCE (TSE:BCE) (NYSE:BCE) last released its quarterly earnings data on Thursday, February 7th. The company reported C$0.89 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.86 by C$0.03. The business had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.20 billion. On average, research analysts forecast that BCE will post 3.72000009477707 EPS for the current year.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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