BCE (TSE:BCE) Price Target Raised to C$62.00

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BCE (TSE:BCE) (NYSE:BCE) had its target price upped by Royal Bank of Canada from C$61.00 to C$62.00 in a research report report published on Friday, BayStreet.CA reports.

BCE has been the subject of several other reports. CIBC lifted their target price on shares of BCE from C$58.00 to C$59.00 in a research note on Friday, May 3rd. National Bank Financial lifted their target price on shares of BCE from C$58.00 to C$60.00 and gave the stock a sector perform rating in a research note on Thursday, July 4th. TD Securities raised shares of BCE from a hold rating to a buy rating and set a C$63.00 target price for the company in a research note on Tuesday, June 18th. Desjardins cut shares of BCE from a buy rating to a hold rating and lowered their price objective for the company from C$66.00 to C$65.00 in a research note on Friday, May 3rd. Finally, Citigroup cut shares of BCE from a buy rating to a neutral rating and set a C$60.00 price objective for the company. in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. BCE presently has a consensus rating of Hold and a consensus target price of C$61.82.

BCE stock opened at C$60.97 on Friday. The stock has a market cap of $54.80 billion and a PE ratio of 18.76. The company has a debt-to-equity ratio of 135.01, a current ratio of 0.57 and a quick ratio of 0.45. BCE has a one year low of C$50.72 and a one year high of C$62.75. The stock has a 50 day moving average price of C$60.10.

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

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. 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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