JPMorgan Chase & Co. Raises BCE (BCE) Price Target to C$62.00

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BCE (TSE:BCE) (NYSE:BCE) had its price target hoisted by JPMorgan Chase & Co. from C$59.00 to C$62.00 in a research note issued to investors on Monday.

A number of other equities research analysts also recently commented on BCE. Morgan Stanley increased their price objective on shares of BCE from C$59.00 to C$60.00 in a research report on Thursday, November 29th. Barclays dropped their price objective on shares of BCE from C$65.00 to C$62.00 in a research report on Friday, November 2nd. Cormark increased their price objective on shares of BCE from C$59.00 to C$61.00 in a research report on Friday. Desjardins raised shares of BCE from a hold rating to a buy rating and dropped their price objective for the company from C$60.75 to C$59.50 in a research report on Thursday, October 18th. Finally, Royal Bank of Canada dropped their price objective on shares of BCE from C$60.00 to C$59.00 and set a sector perform rating on the stock in a research report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. BCE presently has an average rating of Hold and a consensus target price of C$59.65.

BCE stock opened at C$57.00 on Monday. The company has a market cap of $51.49 billion and a price-to-earnings ratio of 18.39. BCE has a 52-week low of C$50.72 and a 52-week high of C$57.70. The company has a current ratio of 0.56, a quick ratio of 0.42 and a debt-to-equity ratio of 117.96.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $0.7925 dividend. This represents a $3.17 dividend on an annualized basis and a dividend yield of 5.56%. This is an increase from BCE’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, March 14th. BCE’s dividend payout ratio (DPR) is 102.29%.

In related news, insider Glen Leblanc sold 7,471 shares of the stock in a transaction on Thursday, November 29th. The shares were sold at an average price of C$57.00, for a total value of C$425,847.00. Also, Director Michael Cole sold 75,850 shares of the stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of C$56.78, for a total transaction of C$4,306,763.00. Insiders sold a total of 85,821 shares of company stock worth $4,779,285 over the last ninety days.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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