BCE (TSE:BCE) Stock Price Down 3.2% on Analyst Downgrade

BCE Inc. (TSE:BCE - Get Free Report) NYSE: BCE's share price dropped 3.2% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from C$39.00 to C$37.00. Royal Bank of Canada currently has a sector perform rating on the stock. BCE traded as low as C$30.39 and last traded at C$30.48. Approximately 2,712,075 shares traded hands during trading, a decline of 31% from the average daily volume of 3,929,405 shares. The stock had previously closed at C$31.49.

Other research analysts also recently issued reports about the company. TD Securities raised their price target on BCE from C$31.00 to C$33.00 and gave the company a "hold" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on shares of BCE from C$29.00 to C$28.00 and set an "underweight" rating for the company in a research note on Thursday, April 3rd. National Bankshares upped their price target on shares of BCE from C$35.00 to C$36.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 11th. National Bank Financial upgraded shares of BCE from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group dropped their target price on shares of BCE from C$33.50 to C$31.50 and set a "hold" rating on the stock in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BCE has a consensus rating of "Hold" and a consensus price target of C$38.82.

BCE Stock Up 1.0 %

The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73. The stock has a fifty day moving average price of C$33.05 and a two-hundred day moving average price of C$36.60. The company has a market cap of C$26.82 billion, a price-to-earnings ratio of 99.34, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.9975 dividend. This represents a $3.99 dividend on an annualized basis and a yield of 13.48%. The ex-dividend date is Friday, March 14th. BCE's dividend payout ratio is currently 1,338.57%.

BCE Company Profile

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.