Scotiabank Issues Pessimistic Forecast for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its target price cut by Scotiabank from C$50.50 to C$47.50 in a research note published on Tuesday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on the company. Barclays reduced their price objective on BCE from C$48.00 to C$46.00 in a report on Wednesday, October 9th. Royal Bank of Canada cut their price target on BCE from C$53.00 to C$52.00 in a research note on Thursday, October 10th. National Bankshares cut shares of BCE from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$52.00 to C$48.00 in a research note on Tuesday, October 1st. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Desjardins lifted their price objective on BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, BCE has an average rating of “Hold” and an average target price of C$46.36.

BCE Trading Up 1.4 %

Shares of BCE stock opened at C$39.49 on Tuesday. The company has a 50-day moving average of C$46.00 and a two-hundred day moving average of C$45.87. BCE has a 12-month low of C$37.81 and a 12-month high of C$56.18. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43. The stock has a market cap of C$36.03 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The business 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 10.10%. BCE’s dividend payout ratio is currently 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.