TD Securities Has Lowered Expectations for BCE (TSE:BCE) Stock Price

BCE (TSE:BCE) (NYSE:BCE) had its price target cut by TD Securities from C$37.00 to C$32.00 in a research report sent to investors on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other brokerages have also recently commented on BCE. Barclays dropped their target price on shares of BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. National Bankshares lowered their price target on BCE from C$48.00 to C$42.00 in a research note on Tuesday, November 5th. Canaccord Genuity Group reduced their price objective on shares of BCE from C$37.50 to C$33.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Scotiabank cut their target price on shares of BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. 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, the company has an average rating of “Hold” and a consensus price target of C$41.88.

BCE Price Performance

BCE stock opened at C$34.40 on Friday. The stock has a market cap of C$31.38 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 4.67 and a beta of 0.48. BCE has a 12-month low of C$31.99 and a 12-month high of C$56.18. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The business’s 50-day simple moving average is C$37.36 and its 200 day simple moving average is C$43.05.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be given a $0.9975 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.99 annualized dividend and a yield of 11.60%. BCE’s dividend payout ratio is currently 185.58%.

BCE Company Profile

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.