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

BCE (TSE:BCE - Free Report) NYSE: BCE had its price objective trimmed by Scotiabank from C$50.50 to C$47.50 in a research report report published on Tuesday, BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of BCE from C$53.00 to C$52.00 in a report on Thursday, October 10th. Cormark reduced their target price on shares of BCE from C$53.00 to C$52.00 in a report on Friday, August 2nd. Desjardins increased their price objective on shares of BCE from C$48.00 to C$51.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. TD Securities reduced their price objective on shares of BCE from C$50.00 to C$43.00 in a research note on Tuesday. Finally, Canaccord Genuity Group increased their price objective on shares of BCE from C$50.00 to C$52.00 in a research note on Thursday, September 19th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of C$47.23.

BCE Stock Performance

BCE stock traded down C$0.55 during midday trading on Tuesday, reaching C$39.92. 9,061,318 shares of the company's stock traded hands, compared to its average volume of 3,020,542. BCE has a 52-week low of C$39.69 and a 52-week high of C$56.18. The stock has a market cap of C$36.42 billion, a P/E ratio of 18.57, a PEG 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 stock's 50-day moving average is C$46.46 and its 200 day moving average is C$45.99.

BCE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.998 per share. The ex-dividend date was Monday, September 16th. This represents a $3.99 annualized dividend and a yield of 10.00%. BCE's 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.