TD Securities Cuts BCE (TSE:BCE) Price Target to C$32.00

BCE (TSE:BCE) (NYSE:BCE) had its price target cut by stock analysts at TD Securities from C$37.00 to C$32.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price points to a potential downside of 6.43% from the stock’s previous close.

A number of other research analysts have also recently weighed in on BCE. Canaccord Genuity Group dropped their price objective on shares of BCE from C$41.00 to C$37.50 in a research note on Friday, November 8th. Canaccord Genuity Group lowered their price target on shares of BCE from C$37.50 to C$33.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada reduced their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 18th. Scotiabank lowered their price target on BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. Finally, National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$41.88.

BCE Stock Performance

Shares of TSE BCE traded up C$0.68 during midday trading on Friday, reaching C$34.20. 1,620,526 shares of the company were exchanged, compared to its average volume of 2,083,210. The stock has a fifty day simple moving average of C$37.58 and a 200 day simple moving average of C$43.16. BCE has a 1 year low of C$31.99 and a 1 year high of C$56.18. The stock has a market cap of C$31.20 billion, a P/E ratio of 15.91, a PEG ratio of 4.67 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43.

About BCE

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.