BCE (TSE:BCE) Price Target Cut to C$39.00 by Analysts at Scotiabank

BCE (TSE:BCE) (NYSE:BCE) had its price target cut by analysts at Scotiabank from C$41.00 to C$39.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 28.42% from the company’s current price.

BCE has been the subject of a number of other research reports. TD upgraded shares of BCE from a “hold” rating to a “buy” rating and set a C$37.00 price objective for the company in a report on Thursday, July 2nd. Royal Bank Of Canada upped their target price on shares of BCE from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Desjardins reduced their target price on shares of BCE from C$41.50 to C$41.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, TD Securities raised shares of BCE from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$38.11.

BCE Trading Up 2.3%

BCE stock traded up C$0.68 during mid-day trading on Tuesday, hitting C$30.37. The company’s stock had a trading volume of 2,774,118 shares, compared to its average volume of 4,112,589. The company has a debt-to-equity ratio of 183.90, a quick ratio of 0.43 and a current ratio of 0.66. The company has a 50 day moving average of C$33.11 and a 200-day moving average of C$33.72. BCE has a one year low of C$29.66 and a one year high of C$36.25. The stock has a market cap of C$28.32 billion, a PE ratio of 4.49, a P/E/G ratio of 4.67 and a beta of 0.29.

BCE (TSE:BCE) (NYSE:BCE) last released its earnings results on Thursday, May 7th. The company reported C$0.63 earnings per share for the quarter. The business had revenue of C$6.17 billion during the quarter. BCE had a return on equity of 29.69% and a net margin of 26.07%. On average, research analysts anticipate that BCE will post 3.1120864 EPS for the current year.

Insider Buying and Selling

In other BCE news, insider Karine Moses sold 3,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$33.25, for a total transaction of C$116,375.00. Following the sale, the insider owned 3,712 shares of the company’s stock, valued at approximately C$123,424. This trade represents a 48.53% decrease in their position. Also, Director Louis Vachon purchased 15,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of C$33.39 per share, for a total transaction of C$500,850.00. Following the completion of the acquisition, the director directly owned 75,000 shares in the company, valued at approximately C$2,504,250. This trade represents a 25.00% increase in their position. Insiders have sold 11,255 shares of company stock worth $376,464 in the last three months. Corporate insiders own 0.02% of the company’s stock.

About BCE

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.