TD Securities Cuts BCE (TSE:BCE) Price Target to C$47.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective reduced by TD Securities from C$48.00 to C$47.00 in a research note published on Friday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Other analysts have also recently issued reports about the stock. Cormark dropped their target price on shares of BCE from C$58.00 to C$53.00 in a report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price objective on BCE from C$54.00 to C$47.00 in a research note on Wednesday, April 3rd. Barclays decreased their target price on BCE from C$52.00 to C$48.00 in a research report on Tuesday, April 9th. Desjardins lowered their target price on BCE from C$58.00 to C$55.00 and set a hold rating on the stock in a research note on Friday, February 9th. Finally, Scotiabank reduced their price target on BCE from C$55.50 to C$53.25 and set a sector perform rating for the company in a research report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, BCE presently has an average rating of Hold and an average target price of C$52.15.

BCE Trading Up 1.8 %

Shares of BCE stock opened at C$45.96 on Friday. The company has a fifty day simple moving average of C$46.42 and a 200-day simple moving average of C$50.82. The company has a current ratio of 0.61, a quick ratio of 0.43 and a debt-to-equity ratio of 184.91. BCE has a 12-month low of C$43.96 and a 12-month high of C$65.11. The stock has a market cap of C$41.93 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.90 and a beta of 0.44.

BCE (TSE:BCE) (NYSE:BCE) last released its earnings results on Thursday, February 8th. The company reported C$0.76 EPS for the quarter, topping the consensus estimate of C$0.73 by C$0.03. BCE had a net margin of 7.88% and a return on equity of 9.36%. The company had revenue of C$6.47 billion during the quarter, compared to analysts’ expectations of C$6.48 billion. On average, equities analysts forecast that BCE will post 3.0296638 EPS for the current fiscal year.

BCE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.998 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.99 annualized dividend and a dividend yield of 8.69%. BCE’s dividend payout ratio is presently 206.74%.

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.