Scotiabank Cuts BCE (TSE:BCE) Price Target to C$42.00

BCE (TSE:BCE) (NYSE:BCE) had its price target reduced by Scotiabank from C$45.00 to C$42.00 in a research report released on Tuesday,BayStreet.CA reports.

Several other analysts also recently issued reports on BCE. Desjardins raised their price objective on shares of BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. TD Securities decreased their target price on BCE from C$43.00 to C$39.00 in a research report on Monday, November 11th. Royal Bank of Canada cut their price target on shares of BCE from C$47.00 to C$45.00 in a report on Monday, November 11th. Finally, Cormark reduced their price target on shares of BCE from C$53.00 to C$52.00 in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$44.86.

BCE Trading Up 0.2 %

Shares of BCE opened at C$37.98 on Tuesday. The company’s fifty day simple moving average is C$43.24 and its 200-day simple moving average is C$45.16. The company has a market cap of C$34.65 billion, a P/E ratio of 17.67, a P/E/G ratio of 4.67 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. BCE has a twelve month low of C$36.95 and a twelve month high of C$56.18.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.9975 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.99 annualized dividend and a yield of 10.51%. BCE’s dividend payout ratio (DPR) is presently 185.58%.

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.