RBC Capital Sticks to Its Buy Rating for BCE (BCE)
RBC Capital analyst Drew Mcreynolds maintained a Buy rating on BCE on July 9 and set a price target of C$36.00. The company’s shares closed yesterday at C$30.21.
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According to TipRanks, Mcreynolds is a 4-star analyst with an average return of 3.9% and a 51.64% success rate. Mcreynolds covers the Communication Services sector, focusing on stocks such as BCE, Telus, and Rogers Communication.
BCE has an analyst consensus of Moderate Buy, with a price target consensus of C$37.53, a 24.24% upside from current levels. In a report released yesterday, CIBC also assigned a Buy rating to the stock with a C$36.00 price target.
Based on BCE’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$6.17 billion and a net profit of C$653 million. In comparison, last year the company earned a revenue of C$5.93 billion and had a net profit of C$671 million
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCE in relation to earlier this year.
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