Royal Bank of Canada Cuts BCE (TSE:BCE) Price Target to C$47.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective trimmed by Royal Bank of Canada from C$52.00 to C$47.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

A number of other equities research analysts have also commented on the company. Desjardins upped their price target on BCE from C$48.00 to C$51.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Barclays reduced their price target on BCE from C$48.00 to C$46.00 in a research report on Wednesday, October 9th. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. BMO Capital Markets upped their price target on BCE from C$48.00 to C$51.00 in a research report on Thursday, September 19th. Finally, Scotiabank reduced their price target on BCE from C$50.50 to C$47.50 in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$47.23.

BCE Price Performance

Shares of BCE opened at C$38.94 on Tuesday. BCE has a 12-month low of C$37.81 and a 12-month high of C$56.18. The business has a 50-day simple moving average of C$46.32 and a two-hundred day simple moving average of C$45.95. 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 cap of C$35.52 billion, a PE ratio of 18.01, a PEG ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.9975 per share. This represents a $3.99 dividend on an annualized basis and a yield of 10.25%. BCE’s payout ratio is 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.