Canaccord Genuity Group Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its price objective decreased by Canaccord Genuity Group from C$33.50 to C$31.50 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 0.06% from the stock’s previous close.

BCE has been the subject of a number of other reports. National Bankshares upped their price objective on shares of BCE from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Scotiabank dropped their price objective on shares of BCE from C$42.00 to C$40.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on shares of BCE from C$29.00 to C$28.00 and set an “underweight” rating on the stock in a report on Thursday. Royal Bank of Canada lowered their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays downgraded BCE from an “equal weight” rating to an “underperform” rating and reduced their target price for the company from C$41.00 to C$30.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$39.18.

BCE Stock Performance

Shares of BCE stock traded down C$0.90 during mid-day trading on Monday, reaching C$31.48. The stock had a trading volume of 3,505,039 shares, compared to its average volume of 3,906,916. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73. BCE has a 1-year low of C$30.71 and a 1-year high of C$49.13. The firm has a market cap of C$28.51 billion, a price-to-earnings ratio of 105.61, a PEG ratio of 4.67 and a beta of 0.48. The business’s fifty day moving average is C$33.71 and its 200-day moving average is C$37.32.

About BCE

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.