BCE (TSE:BCE) Price Target Lowered to C$39.50 at Scotiabank

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price target dropped by analysts at Scotiabank from C$40.00 to C$39.50 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 27.46% from the stock's previous close.

BCE has been the subject of several other reports. Barclays cut shares of BCE from an "equal weight" rating to an "underperform" rating and cut their price target for the stock from C$41.00 to C$30.00 in a report on Thursday, January 30th. TD Securities raised their price target on BCE from C$31.00 to C$33.00 and gave the company a "hold" rating in a report on Friday, February 7th. Canaccord Genuity Group decreased their price objective on shares of BCE from C$33.50 to C$31.50 and set a "hold" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of BCE from C$29.00 to C$28.00 and set an "underweight" rating for the company in a report on Thursday, April 3rd. Finally, National Bankshares boosted their price target on BCE from C$35.00 to C$36.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of C$38.77.

BCE Stock Performance

TSE BCE traded up C$0.52 during trading on Wednesday, reaching C$30.99. The company's stock had a trading volume of 2,744,444 shares, compared to its average volume of 4,081,069. BCE has a twelve month low of C$28.73 and a twelve month high of C$49.13. The firm has a market cap of C$28.07 billion, a price-to-earnings ratio of 103.97, a P/E/G ratio of 4.67 and a beta of 0.48. The business's fifty day moving average price is C$32.74 and its 200-day moving average price is C$36.01. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62.

About BCE

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.