Canaccord Genuity Group Cuts BCE (TSE:BCE) Price Target to C$33.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective decreased by equities research analysts at Canaccord Genuity Group from C$35.00 to C$33.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 9.16% from the company’s current price.

Several other brokerages also recently commented on BCE. Royal Bank Of Canada dropped their price target on BCE from C$39.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Friday. TD upgraded shares of BCE from a “hold” rating to a “buy” rating and set a C$37.00 target price for the company in a research note on Thursday, July 2nd. TD Securities upgraded shares of BCE from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Desjardins dropped their price objective on shares of BCE from C$41.50 to C$41.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Scotiabank cut their price objective on shares of BCE from C$41.00 to C$39.00 and set a “sector outperform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.30.

BCE Stock Performance

Shares of BCE stock traded up C$0.02 on Friday, reaching C$30.23. The stock had a trading volume of 1,180,957 shares, compared to its average volume of 4,091,406. The company has a debt-to-equity ratio of 183.90, a quick ratio of 0.43 and a current ratio of 0.66. The business’s 50-day moving average price is C$32.92 and its two-hundred day moving average price is C$33.68. The stock has a market cap of C$28.19 billion, a P/E ratio of 4.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.29. BCE has a fifty-two week low of C$29.66 and a fifty-two week high of C$36.25.

BCE (TSE:BCE) (NYSE:BCE) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.63 earnings per share (EPS) for the quarter. BCE had a net margin of 26.07% and a return on equity of 29.69%. The company had revenue of C$6.17 billion during the quarter. On average, sell-side analysts forecast that BCE will post 3.1120864 EPS for the current year.

Insider Buying and Selling at BCE

In other BCE news, insider Karine Moses sold 3,500 shares of BCE stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$33.25, for a total transaction of C$116,375.00. Following the sale, the insider directly owned 3,712 shares of the company’s stock, valued at approximately C$123,424. The trade was a 48.53% decrease in their ownership of the stock. Also, Director Louis Vachon acquired 15,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average price of C$33.39 per share, for a total transaction of C$500,850.00. Following the completion of the purchase, the director owned 75,000 shares in the company, valued at approximately C$2,504,250. This trade represents a 25.00% increase in their position. In the last three months, insiders sold 11,255 shares of company stock worth $376,464. Insiders own 0.02% of the company’s stock.

About BCE

Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.