Canaccord Genuity Group Has Lowered Expectations for BCE (TSE:BCE) Stock Price

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

A number of other research firms have also commented on BCE. Royal Bank of Canada lowered their price target on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a report on Wednesday. TD Securities dropped their target price on shares of BCE from C$39.00 to C$37.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Barclays reduced their price target on BCE from C$46.00 to C$41.00 in a report on Monday, November 11th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Canaccord Genuity Group decreased their target price on BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BCE presently has an average rating of “Hold” and a consensus price target of C$43.38.

BCE Stock Down 1.5 %

Shares of BCE opened at C$33.29 on Thursday. BCE has a 1 year low of C$33.02 and a 1 year high of C$56.18. 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 stock has a 50 day simple moving average of C$40.15 and a two-hundred day simple moving average of C$44.12. The firm has a market cap of C$30.37 billion, a P/E ratio of 15.48, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The firm also recently announced 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. This represents a $3.99 annualized dividend and a yield of 11.99%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio (DPR) is presently 185.58%.

BCE Company Profile

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.