BCE (TSE:BCE) Price Target Adjusted to C$33.00

BCE (TSE:BCE) has recently seen a revised price target from TD Securities, which increased its target from C$31.00 to C$33.00 in a research report published on Friday. The brokerage firm has assigned a "hold" rating to the stock, indicating that investors should maintain their current position rather than buy or sell at this time. This new price target suggests a potential upside of approximately 3.55% based on BCE's current trading price.

Other analysts have also provided updates on BCE's stock. The National Bank recently lowered its target price from C$37.00 to C$35.00 while maintaining a "sector perform" rating. Barclays made a significant cut by downgrading BCE from an "equal weight" rating to an "underperform" rating, reducing its price target from C$41.00 to C$30.00. Similarly, Scotiabank adjusted its price objective down from C$45.00 to C$42.00, and JPMorgan Chase & Co. updated their target from C$41.00 to C$35.00, giving it a "neutral" rating. Canaccord Genuity also reduced its target from C$41.00 to C$37.50 in a recent report. Overall, analysts are currently divided in their outlook, with two assigning a sell rating, nine recommending a hold, and one suggesting a buy. According to MarketBeat, BCE has an average rating of "Hold" and an average price target of C$40.42.

BCE's Current Stock Performance

On Friday, shares of BCE dipped 5.4%, dropping C$1.83 during mid-day trading, bringing its price down to C$31.87. During this trading session, 5,480,790 shares changed hands, significantly above the average volume of 3,999,223 shares. BCE's stock has a 50-day moving average of C$34.53 and a 200-day moving average of C$41.31. Over the past year, the stock has seen a low of C$31.43 and a high of C$52.01, and it currently boasts a market capitalization of C$29.07 billion. Its price-to-earnings ratio is 14.82, while the price-to-earnings growth ratio stands at 4.67. BCE's financial health shows a debt-to-equity ratio of 197.43, a quick ratio of 0.43, and a current ratio of 0.65.

Latest Earnings Results

BCE announced its earnings results on November 7th, where it reported earnings per share (EPS) of C$0.75 for the quarter, falling short of the consensus estimate of C$0.77 by C$0.02. The company demonstrated a net margin of 8.75% and posted a return on equity of 10.63%. Comparing year-over-year performance, BCE earned $0.81 EPS during the same quarter last year. Analysts are forecasting an EPS of 3.11 for BCE for the current year.

About BCE Inc.

BCE Inc. is a major telecommunications company in Canada offering a wide range of services including wireless, wireline, Internet, and television to residential, business, and wholesale customers. It operates through two segments: Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment covers wireless services, mobile data, voice plans, internet access, and satellite TV services, catering to diverse customer segments, including individuals, businesses, and government entities.

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