BCE (TSE:BCE) Price Target Cut to C$51.00 by Analysts at Royal Bank of Canada

BCE (TSE:BCEFree Report) (NYSE:BCE) had its price target cut by Royal Bank of Canada from C$54.00 to C$51.00 in a report released on Tuesday, BayStreet.CA reports.

BCE has been the subject of a number of other research reports. Barclays reduced their target price on BCE from C$52.00 to C$48.00 in a report on Tuesday, April 9th. National Bankshares lowered their target price on shares of BCE from C$52.00 to C$50.00 and set an outperform rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets increased their target price on shares of BCE from C$46.00 to C$47.00 and gave the company a market perform rating in a report on Wednesday, June 12th. CIBC raised BCE from a neutral rating to an outperform rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on BCE from C$54.00 to C$47.00 in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BCE currently has an average rating of Hold and an average target price of C$51.38.

Read Our Latest Report on BCE

BCE Stock Down 0.7 %

Shares of TSE:BCE opened at C$43.01 on Tuesday. The company has a market cap of C$39.24 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.90 and a beta of 0.44. BCE has a fifty-two week low of C$42.58 and a fifty-two week high of C$59.50. The firm’s 50-day simple moving average is C$45.60 and its 200-day simple moving average is C$48.31. The company has a quick ratio of 0.43, a current ratio of 0.61 and a debt-to-equity ratio of 184.91.

BCE (TSE:BCEGet Free Report) (NYSE:BCE) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C$0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.72. The company had revenue of C$6.01 billion for the quarter, compared to analyst estimates of C$6.09 billion. BCE had a return on equity of 9.36% and a net margin of 7.88%. As a group, equities research analysts predict that BCE will post 3.0157895 earnings per share for the current year.

BCE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 15th will be given a dividend of $0.998 per share. This represents a $3.99 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date is Friday, June 14th. BCE’s dividend payout ratio is presently 207.81%.

BCE Company Profile

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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.

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Analyst Recommendations for BCE (TSE:BCE)

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