Macquarie Downgrades BCE to Underperform (BCE)
BCE (NYSE:BCE) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
BCE (NYSE:BCE) traded down 1.15% during mid-day trading on Friday, hitting $43.95. The stock had a trading volume of 121,498 shares. BCE has a one year low of $40.02 and a one year high of $46.70. The stock has a 50-day moving average of $45.37 and a 200-day moving average of $44.25. The company has a market cap of $34.162 billion and a price-to-earnings ratio of 18.75.
BCE (NYSE:BCE) last released its earnings data on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.03. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that BCE will post $3.16 EPS for the current fiscal year.
Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of BCE in a research note on Thursday, July 24th. They now have a $50.00 price target on the stock, up previously from $48.00. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.50.
BCE Inc is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs.
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