Royal Bank of Canada Raises BCE (TSE:BCE) Price Target to C$53.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective increased by Royal Bank of Canada from C$51.00 to C$53.00 in a note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 11.44% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. National Bankshares reduced their price target on BCE from C$52.00 to C$50.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets upped their target price on BCE from C$47.00 to C$48.00 in a report on Thursday, September 5th. Cormark reduced their target price on BCE from C$53.00 to C$52.00 in a report on Friday, August 2nd. Desjardins upped their target price on BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, TD Securities upped their price target on BCE from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$51.17.

BCE Stock Down 0.4 %

Shares of TSE:BCE opened at C$47.56 on Thursday. BCE has a 1 year low of C$42.58 and a 1 year high of C$56.18. The company has a market cap of C$43.39 billion, a PE ratio of 22.12, a P/E/G ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 197.43, a current ratio of 0.65 and a quick ratio of 0.43. The stock’s 50-day moving average is C$46.95 and its 200 day moving average is C$46.18.

BCE (TSE:BCE) (NYSE:BCE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.80 by C($0.02). BCE had a net margin of 8.75% and a return on equity of 10.63%. The business had revenue of C$6.01 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. Sell-side analysts anticipate that BCE will post 2.991195 EPS for the current year.

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.