TD Securities Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its target price dropped by investment analysts at TD Securities from C$32.00 to C$31.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective suggests a potential downside of 10.35% from the company’s current price.

Several other research firms have also recently commented on BCE. Scotiabank lowered their price target on shares of BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. Canaccord Genuity Group decreased their price target on shares of BCE from C$41.00 to C$37.50 in a research note on Friday, November 8th. Royal Bank of Canada cut their price objective on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on BCE from C$41.00 to C$35.00 and set a “neutral” rating for the company in a research report on Thursday, January 2nd. Finally, National Bankshares dropped their price objective on shares of BCE from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$40.88.

BCE Stock Performance

BCE stock traded up C$0.37 during mid-day trading on Thursday, hitting C$34.58. 590,103 shares of the company’s stock traded hands, compared to its average volume of 3,399,084. The company has a market cap of C$31.55 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The firm has a 50 day moving average price of C$34.87 and a 200 day moving average price of C$41.69. BCE has a one year low of C$31.43 and a one year high of C$54.89. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43.

BCE (TSE:BCE) (NYSE:BCE) last announced its earnings results on Thursday, November 7th. The company reported C$0.75 earnings per share for the quarter, missing the consensus estimate of C$0.77 by C($0.02). BCE had a net margin of 8.75% and a return on equity of 10.63%. During the same period in the prior year, the firm posted $0.81 EPS. On average, equities analysts forecast that BCE will post 3.1120864 EPS for the current year.

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.