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

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

BCE has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on BCE from C$28.00 to C$29.00 in a research note on Monday, May 12th. National Bank Financial upgraded BCE from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Royal Bank Of Canada cut their price objective on shares of 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. Scotiabank raised shares of BCE from a “hold” rating to a “strong-buy” rating and set a C$39.00 target price on the stock in a research report on Monday, June 2nd. Finally, UBS Group dropped their price target on shares of BCE from C$34.00 to C$32.00 in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$36.73.

BCE Trading Down 0.7%

Shares of BCE stock opened at C$30.81 on Thursday. BCE has a fifty-two week low of C$28.73 and a fifty-two week high of C$49.13. The business’s fifty day moving average is C$30.16 and its two-hundred day moving average is C$32.02. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73. The firm has a market cap of C$27.91 billion, a PE ratio of 103.36, 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 Tuesday, July 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Monday, June 16th. BCE’s dividend payout ratio (DPR) is presently 1,338.57%.

BCE Company Profile

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.