CIBC Boosts BCE (TSE:BCE) Price Target to C$60.00

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BCE (TSE:BCE) (NYSE:BCE) had its target price raised by CIBC from C$59.00 to C$60.00 in a report issued on Friday morning, BayStreet.CA reports.

A number of other brokerages also recently weighed in on BCE. JPMorgan Chase & Co. downgraded shares of BCE from an outperform rating to a neutral rating and reduced their price target for the company from C$63.00 to C$60.00 in a report on Monday, July 8th. TD Securities raised shares of BCE from a hold rating to a buy rating and set a C$63.00 price target for the company in a report on Tuesday, June 18th. Citigroup downgraded shares of BCE from a buy rating to a neutral rating and set a C$60.00 price objective for the company. in a report on Friday, May 3rd. Royal Bank of Canada raised their price objective on shares of BCE from C$61.00 to C$62.00 in a report on Friday. Finally, Desjardins downgraded shares of BCE from a buy rating to a hold rating and reduced their price objective for the stock from C$66.00 to C$65.00 in a report on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average price target of C$61.82.

Shares of BCE stock opened at C$60.97 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.45 and a debt-to-equity ratio of 135.01. BCE has a fifty-two week low of C$50.72 and a fifty-two week high of C$62.75. The firm has a fifty day moving average of C$60.10. The company has a market cap of $54.80 billion and a P/E ratio of 18.76.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.793 per share. This represents a $3.17 dividend on an annualized basis and a dividend yield of 5.20%. This is an increase from BCE’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, September 13th. BCE’s dividend payout ratio (DPR) is presently 97.54%.

BCE Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Analyst Recommendations for BCE (TSE:BCE)

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