BCE (TSE:BCE) Given New C$37.50 Price Target at Canaccord Genuity Group

BCE (TSE:BCE) (NYSE:BCE) had its target price decreased by Canaccord Genuity Group from C$41.00 to C$37.50 in a research note published on Friday,BayStreet.CA reports.

A number of other research analysts have also recently weighed in on BCE. Cormark cut their price target on BCE from C$53.00 to C$52.00 in a research note on Friday, August 2nd. Desjardins upped their target price on shares of BCE from C$48.00 to C$51.00 and gave the company a “hold” rating in a report on Friday, August 2nd. TD Securities reduced their price objective on shares of BCE from C$50.00 to C$43.00 in a research note on Tuesday. Scotiabank lowered their target price on shares of BCE from C$50.50 to C$47.50 in a research note on Tuesday. Finally, BMO Capital Markets raised their price target on BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$46.36.

BCE Price Performance

Shares of BCE traded up C$0.55 during mid-day trading on Friday, hitting C$39.49. The company’s stock had a trading volume of 6,254,600 shares, compared to its average volume of 3,084,050. The firm has a 50-day simple moving average of C$46.00 and a 200 day simple moving average of C$45.87. The firm has a market capitalization of C$36.03 billion, a P/E ratio of 18.37, 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 1-year low of C$37.81 and a 1-year high of C$56.18.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.9975 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a yield of 10.10%. BCE’s 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.