BCE (TSE:BCE) Price Target Lowered to C$33.00 at CIBC

BCE (TSE:BCE) (NYSE:BCE) had its target price reduced by CIBC from C$52.00 to C$33.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a neutral rating on the stock.

BCE has been the subject of a number of other reports. UBS Group dropped their target price on shares of BCE from C$34.00 to C$32.00 in a report on Wednesday, May 21st. National Bank Financial raised BCE from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. National Bankshares set a C$35.00 target price on BCE and gave the stock an “outperform” rating in a research report on Friday, June 6th. Royal Bank Of Canada lowered their target price on BCE from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Friday, May 9th. Finally, Canaccord Genuity Group lifted their price target on BCE from C$31.50 to C$32.00 and gave the stock a “hold” rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$36.73.

BCE Trading Down 0.7%

TSE:BCE opened at C$30.81 on Thursday. BCE has a 1 year low of C$28.73 and a 1 year high of C$49.13. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. The stock has a fifty day moving average price of C$30.16 and a two-hundred day moving average price of C$32.02. The stock has a market capitalization of C$27.91 billion, a price-to-earnings ratio of 103.36, a PEG ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend is Monday, June 16th. BCE’s payout ratio is 1,338.57%.

About BCE

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.