Royal Bank of Canada Cuts BCE (TSE:BCE) Price Target to C$37.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective decreased by equities researchers at Royal Bank of Canada from C$39.00 to C$37.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 23.66% from the company’s current price.

Several other equities analysts also recently commented on the stock. National Bankshares boosted their price target on shares of BCE from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 11th. TD Securities boosted their target price 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. Canaccord Genuity Group reduced their price target on BCE from C$33.50 to C$31.50 and set a “hold” rating on the stock in a research report on Monday. National Bank Financial upgraded BCE from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, Scotiabank cut their target price on shares of BCE from C$42.00 to C$40.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$38.82.

BCE Trading Up 0.5 %

Shares of TSE BCE traded up C$0.15 during trading on Wednesday, reaching C$29.92. The stock had a trading volume of 2,431,823 shares, compared to its average volume of 3,982,729. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. The company has a market cap of C$27.10 billion, a P/E ratio of 100.38, a PEG ratio of 4.67 and a beta of 0.48. BCE has a fifty-two week low of C$28.73 and a fifty-two week high of C$49.13. The business’s 50-day moving average price is C$33.47 and its 200-day moving average price is C$37.04.

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.