BCE (TSE:BCE) Given New C$33.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group cut its price target on BCE from C$35.00 to C$33.00 and kept a hold rating, implying about 9% upside from the current price.
• Other analysts were mixed but generally constructive: the consensus rating on BCE remains Moderate Buy with an average target price of C$37.30.
• BCE traded at C$30.23 on Friday, near its 12-month low, while the company reported quarterly EPS of C$0.63 on revenue of C$6.17 billion.

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price objective reduced by equities research analysts at Canaccord Genuity Group from C$35.00 to C$33.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 9.16% from the stock's current price.

BCE has been the subject of several other research reports. Desjardins reduced their price target on shares of BCE from C$41.50 to C$41.00 and set a "buy" rating for the company in a research report on Friday, May 8th. TD raised shares of BCE from a "hold" rating to a "buy" rating and set a C$37.00 target price on the stock in a research note on Thursday, July 2nd. Royal Bank Of Canada reduced their target price on BCE from C$39.00 to C$36.00 and set an "outperform" rating for the company in a report on Friday. Scotiabank decreased their target price on BCE from C$41.00 to C$39.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Finally, TD Securities upgraded BCE from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$37.30.

BCE Trading Up 0.1%

BCE traded up C$0.02 during trading on Friday, reaching C$30.23. The company had a trading volume of 1,180,957 shares, compared to its average volume of 4,091,406. The firm's 50-day simple moving average is C$32.92 and its 200 day simple moving average is C$33.68. 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 market cap of C$28.19 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 4.67 and a beta of 0.29. BCE has a 12-month low of C$29.66 and a 12-month high of C$36.25.

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

Insider Transactions at BCE

In other news, insider Sean Cohan sold 3,645 shares of BCE stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$33.48, for a total transaction of C$122,034.60. Also, insider Thierry Chaumont sold 4,110 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$33.59, for a total value of C$138,054.90. Insiders sold a total of 11,255 shares of company stock worth $376,464 in the last ninety days. Company 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.

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