BCE (TSE:BCE) Given New C$63.00 Price Target at Royal Bank of Canada

Posted by on Aug 6th, 2023

BCE (TSE:BCE – Get Free Report) (NYSE:BCE) had its price objective reduced by Royal Bank of Canada from C$64.00 to C$63.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.94% from the company’s current price.

BCE has been the topic of a number of other research reports. Scotiabank cut their price target on shares of BCE from C$63.00 to C$61.00 in a research report on Friday. Cormark cut their price target on shares of BCE from C$69.00 to C$68.00 in a research report on Friday, May 5th. BMO Capital Markets upped their price target on shares of BCE from C$64.00 to C$67.00 in a research report on Friday, May 5th. Canaccord Genuity Group cut their price objective on shares of BCE from C$63.00 to C$61.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, TD Securities raised shares of BCE from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$63.00 to C$61.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, BCE has a consensus rating of “Hold” and an average target price of C$62.64.

BCE Stock Performance

Shares of BCE opened at C$56.28 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.43 and a debt-to-equity ratio of 151.81. The stock has a market capitalization of C$51.34 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 3.30 and a beta of 0.51. The firm’s fifty day simple moving average is C$59.33 and its two-hundred day simple moving average is C$61.19. BCE has a 12 month low of C$55.40 and a 12 month high of C$66.05.

BCE (TSE:BCE – Get Free Report) (NYSE:BCE) last issued its quarterly earnings results on Thursday, May 4th. The company reported C$0.85 EPS for the quarter, beating analysts’ consensus estimates of C$0.80 by C$0.05. The business had revenue of C$6.05 billion for the quarter, compared to analysts’ expectations of C$5.99 billion. BCE had a net margin of 11.19% and a return on equity of 12.07%. As a group, analysts predict that BCE will post 3.2180822 EPS for the current year.

BCE Company Profile

(Get Free Report)

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.

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Analyst Recommendations for BCE (TSE:BCE)

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