Scotiabank Cuts BCE (TSE:BCE) Price Target to C$40.75

BCE (TSE:BCE) (NYSE:BCE) had its target price cut by Scotiabank from C$41.50 to C$40.75 in a report published on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

BCE has been the subject of a number of other reports. TD Securities cut their target price on BCE from C$39.00 to C$38.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Desjardins raised their price objective on shares of BCE from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Royal Bank Of Canada raised shares of BCE from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$35.00 to C$47.00 in a research note on Wednesday, October 15th. BMO Capital Markets raised shares of BCE from a “market perform” rating to an “outperform” rating and set a C$37.00 price target for the company in a research note on Thursday, December 11th. Finally, Cibc Captl Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, BCE currently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.25.

BCE Stock Up 2.1%

BCE stock opened at C$33.62 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73. The firm has a 50-day moving average of C$32.34 and a two-hundred day moving average of C$32.79. BCE has a 12 month low of C$28.73 and a 12 month high of C$36.59. The company has a market cap of C$31.35 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 4.67 and a beta of 0.48.

BCE (TSE:BCE) (NYSE:BCE) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.79 earnings per share (EPS) for the quarter. BCE had a return on equity of 1.39% and a net margin of 1.10%.The business had revenue of C$6.05 billion during the quarter. As a group, analysts forecast that BCE will post 3.1120864 earnings per share for the current fiscal year.

BCE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Thursday, January 15th will be issued a $0.4375 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.2%. BCE’s payout ratio is 43.09%.

About BCE

Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services.