Canaccord Genuity Group Lowers BCE (TSE:BCE) Price Target to C$37.50

BCE (TSE:BCE) (NYSE:BCE) had its price objective trimmed by Canaccord Genuity Group from C$41.00 to C$37.50 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. TD Securities cut their target price on shares of BCE from C$50.00 to C$43.00 in a report on Tuesday. Royal Bank of Canada lowered their target price on BCE from C$52.00 to C$47.00 in a report on Tuesday. Desjardins raised their price target on BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets upped their price objective on BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$46.36.

BCE Stock Up 1.4 %

TSE BCE traded up C$0.55 on Friday, hitting C$39.49. 6,254,600 shares of the stock traded hands, compared to its average volume of 3,084,050. 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 has a 50-day moving average of C$46.00 and a 200 day moving average of C$45.87. BCE has a twelve month low of C$37.81 and a twelve month high of C$56.18. The company has a market capitalization of C$36.03 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.9975 dividend. This represents a $3.99 annualized dividend and a dividend yield of 10.10%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 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.