BCE (TSE:BCE) Price Target Cut to C$55.00

BCE (TSE:BCEFree Report) (NYSE:BCE) had its target price reduced by Desjardins from C$58.00 to C$55.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on BCE from C$59.00 to C$58.00 and set an equal weight rating on the stock in a research note on Monday, November 6th. Scotiabank decreased their price objective on BCE from C$57.25 to C$55.50 and set a sector perform rating for the company in a research note on Friday. Canaccord Genuity Group decreased their price target on BCE from C$57.00 to C$55.00 and set a buy rating for the company in a research note on Friday. BMO Capital Markets decreased their price target on BCE from C$60.00 to C$54.00 and set an outperform rating for the company in a research note on Friday. Finally, CIBC reduced their price objective on BCE from C$56.00 to C$54.00 and set a neutral rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of C$55.81.

Read Our Latest Report on BCE

BCE Stock Up 1.2 %

Shares of BCE opened at C$51.11 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 175.98. BCE has a 12-month low of C$49.57 and a 12-month high of C$65.66. The business’s 50 day moving average is C$53.74 and its 200 day moving average is C$53.91. The company has a market capitalization of C$46.63 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.998 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from BCE’s previous quarterly dividend of $0.97. This represents a $3.99 annualized dividend and a yield of 7.81%. BCE’s dividend payout ratio is currently 175.00%.

BCE Company Profile

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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 three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communication products and services, as well as consumer electronics products.

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