BCE (TSE:BCE) Price Target Lowered to C$45.00 at Royal Bank of Canada

BCE (TSE:BCE) (NYSE:BCE) had its target price cut by Royal Bank of Canada from C$47.00 to C$45.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group cut their price target on BCE from C$41.00 to C$37.50 in a research note on Friday. Cormark dropped their price target on shares of BCE from C$53.00 to C$52.00 in a research note on Friday, August 2nd. National Bankshares reduced their price objective on shares of BCE from C$48.00 to C$42.00 in a research report on Tuesday, November 5th. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Desjardins boosted their target price on BCE from C$48.00 to C$51.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$45.36.

BCE Stock Down 1.8 %

Shares of BCE stock opened at C$38.79 on Monday. BCE has a 52-week low of C$37.81 and a 52-week high of C$56.18. The business has a 50 day moving average price of C$46.00. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The stock has a market capitalization of C$35.39 billion, a P/E ratio of 18.17, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.9975 per share. This represents a $3.99 dividend on an annualized basis and a yield of 10.29%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 185.58%.

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.