BCE (TSE:BCE) Price Target Cut to C$47.00

BCE (TSE:BCE) (NYSE:BCE) had its target price reduced by TD Securities from C$48.00 to C$47.00 in a research note issued to investors on Friday, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

BCE has been the topic of several other research reports. Barclays lowered their target price on shares of BCE from C$52.00 to C$48.00 in a research note on Tuesday, April 9th. Royal Bank of Canada cut their target price on shares of BCE from C$57.00 to C$54.00 and set a sector perform rating for the company in a research note on Wednesday, April 10th. Cormark reduced their price objective on BCE from C$58.00 to C$53.00 in a research note on Thursday, April 18th. JPMorgan Chase & Co. decreased their price target on BCE from C$54.00 to C$47.00 in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reduced their price objective on shares of BCE from C$57.00 to C$55.00 and set a buy rating for the company in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BCE currently has a consensus rating of Hold and an average target price of C$52.15.

BCE Stock Up 1.8 %

TSE BCE opened at C$45.96 on Friday. BCE has a fifty-two week low of C$43.96 and a fifty-two week high of C$65.11. The stock has a market cap of C$41.93 billion, a PE ratio of 23.81, a P/E/G ratio of 1.90 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.61 and a debt-to-equity ratio of 184.91. The business has a 50 day moving average price of C$46.42 and a two-hundred day moving average price of C$50.82.

BCE (TSE:BCE) (NYSE:BCE) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.03. The business had revenue of C$6.47 billion during the quarter, compared to the consensus estimate of C$6.48 billion. BCE had a return on equity of 9.36% and a net margin of 7.88%. As a group, sell-side analysts predict that BCE will post 3.0296638 EPS for the current fiscal year.

BCE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.998 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.99 dividend on an annualized basis and a yield of 8.69%. BCE’s payout ratio is presently 206.74%.

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.