BCE (TSE:BCE) Price Target Raised to C$33.50 at Canaccord Genuity Group

BCE (TSE:BCE - Free Report) NYSE: BCE had its price target increased by Canaccord Genuity Group from C$33.00 to C$33.50 in a research report report published on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on BCE. National Bankshares lowered their target price on BCE from C$37.00 to C$35.00 and set a "sector perform" rating on the stock in a research note on Friday, January 3rd. Canaccord Genuity Group lowered their price objective on BCE from C$41.00 to C$37.50 in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered BCE from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from C$35.00 to C$29.00 in a research note on Friday. TD Securities raised their price objective on BCE from C$31.00 to C$33.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Scotiabank lowered their price objective on BCE from C$45.00 to C$42.00 in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$40.42.

BCE Stock Performance

Shares of TSE BCE traded up C$0.49 during trading hours on Friday, reaching C$32.70. 2,575,278 shares of the stock were exchanged, compared to its average volume of 4,122,735. The company has a market cap of C$29.83 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. BCE has a 52 week low of C$31.43 and a 52 week high of C$51.57. The company's fifty day simple moving average is C$34.29.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a dividend of $0.9975 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a yield of 12.20%. BCE's dividend payout ratio (DPR) is currently 185.58%.

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.