Canaccord Genuity Group Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its target price decreased by investment analysts at Canaccord Genuity Group from C$37.50 to C$33.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's target price suggests a potential downside of 0.87% from the stock's current price.

A number of other analysts also recently issued reports on BCE. Scotiabank decreased their price target on BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. Canaccord Genuity Group lowered their target price on shares of BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. Royal Bank of Canada cut their price target on shares of BCE from C$45.00 to C$41.00 and set a "sector perform" rating on the stock in a research note on Wednesday. TD Securities decreased their price objective on shares of BCE from C$39.00 to C$37.00 and set a "hold" rating for the company in a research note on Tuesday, December 3rd. Finally, National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$43.38.

BCE Stock Down 1.5 %

BCE traded down C$0.52 on Thursday, hitting C$33.29. 4,021,257 shares of the company were exchanged, compared to its average volume of 3,299,409. The firm has a 50-day moving average price of C$40.40 and a two-hundred day moving average price of C$44.21. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43. BCE has a twelve month low of C$33.02 and a twelve month high of C$56.18. The company has a market cap of C$30.37 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Company Profile

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 two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.