BCE (TSE:BCE) Price Target Raised to C$40.00 at TD

Key Points

• TD raised its price target for BCE from C$37.00 to C$40.00 and maintained a “buy” rating, implying 24.34% upside from the prior close.
• BCE has a consensus “Moderate Buy” rating among analysts, with an average price target of C$37.54; recommendations include one Strong Buy, eight Buys, and four Holds.
• BCE shares fell 1.3% to C$32.17 in Tuesday trading. The company recently reported quarterly EPS of C$0.65 and revenue of C$6.18 billion.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price objective increased by analysts at TD from C$37.00 to C$40.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's target price would suggest a potential upside of 24.34% from the company's previous close.

BCE has been the subject of a number of other reports. Scotia lifted their price target on BCE from C$39.00 to C$40.00 and gave the stock a "sector outperform" rating in a report on Friday, August 7th. Scotiabank lowered their price objective on shares of BCE from C$41.00 to C$39.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 7th. Raymond James Financial set a C$37.00 price target on BCE and gave the stock a "market perform" rating in a report on Thursday, July 16th. Royal Bank Of Canada cut their price objective on shares of BCE from C$39.00 to C$36.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. Finally, Desjardins lowered their target price on shares of BCE from C$43.50 to C$41.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, BCE presently has a consensus rating of "Moderate Buy" and an average target price of C$37.54.

BCE Stock Down 1.3%

BCE stock traded down C$0.42 during midday trading on Tuesday, hitting C$32.17. The company's stock had a trading volume of 5,382,950 shares, compared to its average volume of 4,084,913. The firm has a market capitalization of C$30.00 billion, a P/E ratio of 4.77, a PEG ratio of 4.67 and a beta of 0.37. The company has a quick ratio of 0.43, a current ratio of 0.73 and a debt-to-equity ratio of 175.06. BCE has a 52-week low of C$29.66 and a 52-week high of C$36.25. The firm has a 50-day simple moving average of C$31.58 and a 200-day simple moving average of C$32.96.

BCE (TSE:BCE - Get Free Report) NYSE: BCE last released its earnings results on Thursday, August 6th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$6.18 billion during the quarter. BCE had a return on equity of 27.73% and a net margin of 25.89%. As a group, equities analysts forecast that BCE will post 3.1120864 EPS for the current 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.

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