Scotiabank Cuts BCE (TSE:BCE) Price Target to C$47.50

BCE (TSE:BCE) (NYSE:BCE) had its price objective trimmed by Scotiabank from C$50.50 to C$47.50 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Several other research firms have also issued reports on BCE. Desjardins increased their price objective on BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price objective on BCE from C$53.00 to C$52.00 in a research note on Thursday, October 10th. Barclays dropped their price objective on BCE from C$48.00 to C$46.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on BCE from C$46.00 to C$47.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Cormark lowered their target price on BCE from C$53.00 to C$52.00 in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$47.23.

BCE Stock Performance

BCE stock opened at C$38.94 on Tuesday. The company has a debt-to-equity ratio of 197.43, a current ratio of 0.65 and a quick ratio of 0.43. The stock has a fifty day moving average price of C$46.32 and a two-hundred day moving average price of C$45.95. BCE has a 52-week low of C$37.81 and a 52-week high of C$56.18. The firm has a market capitalization of C$35.52 billion, a P/E ratio of 18.01, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 10.25%. BCE’s dividend payout ratio is 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.