BCE (TSE:BCE) Price Target Cut to C$33.00 by Analysts at Canaccord Genuity Group

BCE (TSE:BCE) (NYSE:BCE) had its target price reduced by Canaccord Genuity Group from C$37.50 to C$33.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other analysts also recently commented on the stock. BMO Capital Markets boosted their price target on shares of BCE from C$48.00 to C$51.00 in a research report on Thursday, September 19th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada decreased their price target on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Wednesday. Barclays dropped their price objective on BCE from C$46.00 to C$41.00 in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on BCE from C$47.00 to C$41.00 in a research note on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$43.38.

BCE Price Performance

Shares of BCE opened at C$33.28 on Thursday. BCE has a one year low of C$32.95 and a one year high of C$56.18. The stock’s fifty day moving average is C$39.90 and its 200-day moving average is C$44.02. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65. The firm has a market capitalization of C$30.36 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a $0.9975 dividend. This represents a $3.99 annualized dividend and a dividend yield of 11.99%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) 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.