Scotiabank Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price target decreased by analysts at Scotiabank from C$40.00 to C$39.50 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 29.64% from the stock's previous close.

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

BCE Trading Up 1.6 %

Shares of BCE traded up C$0.48 during mid-day trading on Wednesday, hitting C$30.47. The company had a trading volume of 3,115,470 shares, compared to its average volume of 4,098,891. BCE has a 1-year low of C$28.73 and a 1-year high of C$49.13. The stock has a market cap of C$27.60 billion, a PE ratio of 102.22, a P/E/G ratio of 4.67 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73. The business's 50-day simple moving average is C$32.74 and its 200-day simple moving average is C$36.08.

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.