Canaccord Genuity Group Lowers BCE (TSE:BCE) Price Target to C$50.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective cut by Canaccord Genuity Group from C$53.00 to C$50.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. TD Securities cut their price objective on shares of BCE from C$48.00 to C$47.00 and set a hold rating on the stock in a research report on Friday, May 3rd. Cormark lowered their price target on shares of BCE from C$58.00 to C$53.00 in a research note on Thursday, April 18th. JPMorgan Chase & Co. lowered their price target on shares of BCE from C$54.00 to C$47.00 in a research note on Wednesday, April 3rd. Scotiabank lowered their price target on shares of BCE from C$53.25 to C$53.00 and set a sector perform rating on the stock in a research note on Friday, May 3rd. Finally, BMO Capital Markets lifted their price target on shares of BCE from C$46.00 to C$47.00 and gave the company a market perform rating in a research note on Wednesday, June 12th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of C$51.31.

BCE Trading Up 1.6 %

BCE opened at C$43.99 on Tuesday. The stock has a market capitalization of C$40.13 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.90 and a beta of 0.44. BCE has a 12 month low of C$42.58 and a 12 month high of C$59.25. The firm’s fifty day simple moving average is C$45.53 and its 200 day simple moving average is C$48.24. 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 (TSE:BCE) (NYSE:BCE) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C$0.72 EPS for the quarter, meeting the consensus estimate of C$0.72. The business had revenue of C$6.01 billion for the quarter, compared to analysts’ expectations of C$6.09 billion. BCE had a net margin of 7.88% and a return on equity of 9.36%. As a group, research analysts anticipate that BCE will post 3.0157895 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 Monday, July 15th will be paid a dividend of $0.998 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.99 annualized dividend and a dividend yield of 9.07%. BCE’s dividend payout ratio is presently 207.81%.

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.