BCE (TSE:BCE) Downgraded to Hold Rating by Cibc World Mkts

BCE (TSE:BCEGet Free Report) (NYSE:BCE) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research firms also recently commented on BCE. Scotiabank upgraded BCE from a “hold” rating to a “strong-buy” rating and set a C$39.00 price objective on the stock in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their price objective on BCE from C$28.00 to C$29.00 in a report on Monday, May 12th. Desjardins raised their price objective on BCE from C$36.00 to C$39.00 and gave the stock a “hold” rating in a report on Friday, May 9th. CIBC cut their price objective on BCE from C$52.00 to C$33.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada cut their price objective on BCE from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$36.73.

Check Out Our Latest Stock Analysis on BCE

BCE Stock Performance

TSE BCE opened at C$30.84 on Thursday. The business’s 50-day moving average price is C$30.17 and its 200 day moving average price is C$32.00. BCE has a twelve month low of C$28.73 and a twelve month high of C$49.13. The company has a market capitalization of C$27.93 billion, a PE ratio of 103.46, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73.

About BCE

(Get Free Report)

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.

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Analyst Recommendations for BCE (TSE:BCE)

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