BCE (TSE:BCE) Stock Price Expected to Rise, TD Securities Analyst Says

BCE (TSE:BCE - Free Report) NYSE: BCE had its price target increased by TD Securities from C$31.00 to C$33.00 in a research report released on Friday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also recently weighed in on BCE. Scotiabank dropped their price target on shares of BCE from C$45.00 to C$42.00 in a research note on Tuesday, November 26th. Canaccord Genuity Group lowered their price objective on shares of BCE from C$37.50 to C$33.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Canaccord Genuity Group lowered their price objective on shares of BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. National Bankshares lowered their price objective on shares of BCE from C$37.00 to C$35.00 and set a "sector perform" rating for the company in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BCE from C$41.00 to C$35.00 and set a "neutral" rating for the company in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$40.42.

BCE Price Performance

TSE BCE traded up C$0.48 during trading hours on Friday, hitting C$32.69. 3,671,914 shares of the company's stock traded hands, compared to its average volume of 4,162,504. The company's 50-day moving average is C$34.29. BCE has a 52-week low of C$31.43 and a 52-week high of C$51.57. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The company has a market cap of C$29.82 billion, a P/E ratio of 15.20, a PEG ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were given a dividend of $0.9975 per share. The ex-dividend date was Monday, December 16th. This represents a $3.99 annualized dividend and a yield of 12.21%. BCE's payout ratio is currently 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.