Scotiabank Cuts BCE (TSE:BCE) Price Target to C$53.00

BCE (TSE:BCE) (NYSE:BCE) had its price target reduced by Scotiabank from C$53.25 to C$53.00 in a research note released on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

BCE has been the subject of several other reports. Desjardins cut their target price on shares of BCE from C$58.00 to C$55.00 and set a hold rating for the company in a report on Friday, February 9th. Royal Bank of Canada lowered their target price on shares of BCE from C$57.00 to C$54.00 and set a sector perform rating on the stock in a research note on Wednesday, April 10th. Canaccord Genuity Group cut their price target on 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. CIBC raised BCE from a neutral rating to an outperform rating in a report on Tuesday, April 23rd. Finally, TD Securities cut their price objective on BCE from C$48.00 to C$47.00 and set a hold rating for the company in a research report on Friday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of C$52.15.

BCE Trading Up 1.8 %

Shares of TSE:BCE opened at C$45.96 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 175.98. BCE has a 52-week low of C$43.96 and a 52-week high of C$65.11. The stock has a market cap of C$41.93 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.90 and a beta of 0.44. The business has a 50-day moving average price of C$46.52 and a 200-day moving average price of C$50.88.

BCE (TSE:BCE) (NYSE:BCE) last released its quarterly earnings data on Thursday, February 8th. The company reported C$0.76 earnings per share for the quarter, beating 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 analyst estimates of C$6.48 billion. BCE had a return on equity of 10.81% and a net margin of 9.17%. Equities analysts predict that BCE will post 3.0377747 EPS for the current year.

BCE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a dividend of $0.998 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.99 annualized dividend and a yield of 8.69%. BCE’s dividend payout ratio is presently 175.00%.

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.