BMO Capital Markets Raises BCE (TSE:BCE) Price Target to C$51.00

BCE (TSE:BCE) (NYSE:BCE) had its target price lifted by investment analysts at BMO Capital Markets from C$48.00 to C$51.00 in a report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 7.23% from the stock’s current price.

Several other analysts have also recently commented on BCE. Royal Bank of Canada upped their target price on BCE from C$51.00 to C$53.00 in a report on Thursday. JPMorgan Chase & Co. upped their target price on BCE from C$46.00 to C$47.00 and gave the company a “neutral” rating 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 company a “hold” rating in a report on Friday, August 2nd. Cormark reduced their target price on BCE from C$53.00 to C$52.00 in a report on Friday, August 2nd. Finally, National Bankshares upped their target price on BCE from C$50.00 to C$52.00 in a report on Thursday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$51.17.

BCE Stock Performance

TSE:BCE opened at C$47.56 on Thursday. The stock has a market cap of C$43.39 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.90 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. The stock’s 50-day moving average is C$46.95 and its 200-day moving average is C$46.18. BCE has a 1-year low of C$42.58 and a 1-year high of C$56.18.

BCE (TSE:BCE) (NYSE:BCE) last announced its earnings results on Thursday, August 1st. The company reported C$0.78 EPS for the quarter, missing the consensus estimate 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 company had revenue of C$6.01 billion during the quarter, compared to the consensus estimate of C$6.07 billion. Equities research analysts anticipate that BCE will post 2.991195 earnings per share 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.