JPMorgan Chase & Co. Cuts BCE (TSE:BCE) Price Target to C$35.00

BCE (TSE:BCE) (NYSE:BCE) had its price objective decreased by JPMorgan Chase & Co. from C$41.00 to C$35.00 in a research note released on Thursday,BayStreet.CA reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on BCE. BMO Capital Markets increased their price objective on shares of BCE from C$48.00 to C$51.00 in a research report on Thursday, September 19th. Scotiabank dropped their price target on BCE from C$45.00 to C$42.00 in a research note on Tuesday, November 26th. Barclays reduced their price objective on BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. Canaccord Genuity Group dropped their target price on BCE from C$37.50 to C$33.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their price target on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 18th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, BCE presently has an average rating of “Hold” and a consensus target price of C$41.88.

BCE Trading Up 2.6 %

TSE BCE opened at C$34.40 on Thursday. The stock has a 50-day simple moving average of C$37.36 and a 200 day simple moving average of C$43.07. BCE has a 12 month low of C$31.99 and a 12 month high of C$56.18. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43. The company has a market capitalization of C$31.38 billion, a PE ratio of 16.00, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.9975 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a yield of 11.60%. BCE’s payout ratio is 185.58%.

About BCE

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.