Canaccord Genuity Group Cuts BCE (TSE:BCE) Price Target to C$33.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective cut by Canaccord Genuity Group from C$37.50 to C$33.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research analysts also recently commented on BCE. BMO Capital Markets increased their price target on BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. Barclays dropped their price target on shares of BCE from C$46.00 to C$41.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of BCE from C$47.00 to C$41.00 in a report on Friday, November 8th. Canaccord Genuity Group decreased their price objective on shares of BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$43.38.

BCE Stock Performance

Shares of BCE stock opened at C$33.28 on Thursday. The company has a debt-to-equity ratio of 197.43, a current ratio of 0.65 and a quick ratio of 0.43. The company’s fifty day moving average price is C$39.90 and its two-hundred day moving average price is C$44.02. The firm has a market capitalization of C$30.36 billion, a P/E ratio of 15.48, a P/E/G ratio of 4.67 and a beta of 0.48. BCE has a 12 month low of C$32.95 and a 12 month high of C$56.18.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.9975 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a yield of 11.99%. BCE’s payout ratio is currently 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.