BCE (TSE:BCE) Cut to Hold at Cibc World Mkts

BCE (TSE:BCE - Get Free Report) NYSE: BCE was downgraded by stock analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

BCE has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of BCE from C$28.00 to C$29.00 in a research note on Monday, May 12th. UBS Group dropped their price target on shares of BCE from C$34.00 to C$32.00 in a research report on Wednesday, May 21st. CIBC dropped their price target on shares of BCE from C$52.00 to C$33.00 and set a "neutral" rating for the company in a research report on Thursday. Canaccord Genuity Group upped their price target on shares of BCE from C$31.50 to C$32.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Finally, Scotiabank raised shares of BCE from a "hold" rating to a "strong-buy" rating and set a C$39.00 price target for the company in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, BCE currently has a consensus rating of "Hold" and a consensus target price of C$36.73.

BCE Stock Performance

Shares of BCE opened at C$30.81 on Thursday. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. The company has a market capitalization of C$27.91 billion, a price-to-earnings ratio of 103.36, a PEG ratio of 4.67 and a beta of 0.48. The company's 50 day simple moving average is C$30.16 and its 200 day simple moving average is C$32.02. BCE has a 1 year low of C$28.73 and a 1 year high of C$49.13.

BCE Company Profile

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.

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