BCE (TSE:BCE) Downgraded by JPMorgan Chase & Co. to “Neutral”
JPMorgan Chase & Co. downgraded shares of BCE (TSE:BCE) (NYSE:BCE) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have C$60.00 price target on the stock, down from their prior price target of C$63.00.
Several other research firms have also commented on BCE. Royal Bank of Canada reiterated a hold rating on shares of Rogers Communications in a research report on Tuesday, April 9th. Citigroup set a $47.00 price objective on shares of Quanta Services and gave the stock a buy rating in a research report on Friday, May 3rd. National Bank Financial set a C$70.00 price objective on shares of MTY Food Group and gave the stock a sector perform rating in a research report on Thursday, July 4th. CIBC boosted their price objective on shares of TransAlta from C$9.00 to C$10.00 in a research report on Friday, May 3rd. Finally, TD Securities boosted their price objective on shares of Dream Industrial Real Estate Invest Trst from C$13.00 to C$13.50 and gave the stock a buy rating in a research report on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of C$61.40.
Shares of TSE BCE opened at C$60.44 on Monday. BCE has a one year low of C$50.72 and a one year high of C$62.75. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 133.90. The stock’s fifty day moving average is C$60.62. The stock has a market cap of $54.33 billion and a price-to-earnings ratio of 18.95.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $0.7925 dividend. This represents a $3.17 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, June 13th. BCE’s payout ratio is 99.40%.
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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