BCE (TSE:BCE) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of BCE (TSE:BCE) (NYSE:BCE) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have C$41.00 price objective on the stock, down from their previous price objective of C$51.00.

Several other equities research analysts have also issued reports on the stock. Desjardins boosted their price target 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. Barclays lowered their price target on shares of BCE from C$48.00 to C$46.00 in a report on Wednesday, October 9th. National Bankshares lowered their price target on shares of BCE from C$48.00 to C$42.00 in a report on Tuesday. 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, Cormark reduced their target price on shares of BCE from C$53.00 to C$52.00 in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$47.23.

BCE Trading Down 2.8 %

Shares of BCE stock opened at C$38.94 on Tuesday. The firm has a market capitalization of C$35.52 billion, a P/E ratio of 18.01, a price-to-earnings-growth 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. The firm’s fifty day simple moving average is C$46.32 and its 200 day simple moving average is C$45.95. BCE has a 1 year low of C$37.81 and a 1 year high of C$56.18.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.9975 per share. This represents a $3.99 annualized dividend and a yield of 10.25%. BCE’s dividend payout ratio (DPR) 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.