Royal Bank of Canada Lowers BCE (TSE:BCE) Price Target to C$45.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective trimmed by Royal Bank of Canada from C$47.00 to C$45.00 in a research note released on Monday,BayStreet.CA reports.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group dropped their price target on shares of BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. TD Securities lowered their target price on shares of BCE from C$43.00 to C$39.00 in a research note on Monday. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. National Bankshares lowered their price target on BCE from C$48.00 to C$42.00 in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on BCE from C$47.00 to C$41.00 in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, BCE has a consensus rating of “Hold” and a consensus target price of C$45.36.

BCE Trading Down 0.9 %

Shares of TSE BCE opened at C$37.74 on Monday. The business has a 50 day simple moving average of C$45.47 and a 200 day simple moving average of C$45.74. BCE has a 52 week low of C$37.66 and a 52 week high of C$56.18. The stock has a market cap of C$34.43 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 4.67 and a beta of 0.48. The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65.

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 10.57%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio is 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.