BCE (TSE:BCE) PT Lowered to C$59.00 at Royal Bank of Canada

BCE (TSE:BCE) (NYSE:BCE) had its price objective cut by investment analysts at Royal Bank of Canada from C$60.00 to C$59.00 in a research note issued to investors on Friday, November 2nd. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.06% from the company’s previous close.

Several other equities research analysts also recently weighed in on BCE. CIBC reduced their price target on shares of BCE from C$59.00 to C$58.00 in a research report on Friday, August 3rd. TD Securities cut their target price on shares of BCE from C$58.00 to C$57.00 in a research report on Friday, August 3rd. Desjardins cut their target price on shares of BCE from C$61.00 to C$60.75 and set a “hold” rating for the company in a research report on Friday, August 3rd. Morgan Stanley cut their target price on shares of BCE from C$62.00 to C$59.00 in a research report on Friday, August 31st. Finally, Barclays dropped their price target on shares of BCE from C$65.00 to C$62.00 in a research note on Friday, November 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$59.79.

Shares of TSE BCE traded up C$0.12 on Friday, reaching C$54.10. 1,453,900 shares of the company’s stock traded hands, compared to its average volume of 1,549,972. BCE has a 12 month low of C$50.72 and a 12 month high of C$62.90. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 116.29.

BCE (TSE:BCE) (NYSE:BCE) last announced its quarterly earnings results on Thursday, November 1st. The company reported C$0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.93 by C$0.03. The firm had revenue of C$5.88 billion for the quarter, compared to the consensus estimate of C$5.86 billion. During the same period last year, the business earned $0.68 EPS. Analysts predict that BCE will post 3.66000021832532 earnings per share for the current fiscal year.

In other BCE news, insider Duc Bernard Le sold 7,513 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of C$52.90, for a total value of C$397,437.70.

About BCE

BCE Inc, a telecommunications and media 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 communications products and services.

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