JPMorgan Chase & Co. Downgrades BCE (TSE:BCE) 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. The firm currently has C$60.00 target price on the stock, down from their previous target price of C$63.00.

BCE has been the subject of a number of other research reports. National Bank Financial reaffirmed a sector perform rating and set a C$70.00 price target on shares of MTY Food Group in a report on Thursday, July 4th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a buy rating in a report on Friday, May 3rd. Desjardins upped their price target on shares of Stella-Jones from C$50.00 to C$54.00 in a report on Friday, May 3rd. Royal Bank of Canada reaffirmed a hold rating on shares of Rogers Communications in a report on Tuesday, April 9th. Finally, CIBC upped their price target on shares of TransAlta from C$9.00 to C$10.00 in a report 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’s stock. BCE has an average rating of Hold and an average price target of C$61.40.

Shares of TSE:BCE traded up C$0.30 on Monday, reaching C$60.62. 611,547 shares of the company’s stock were exchanged, compared to its average volume of 1,820,180. The company’s fifty day moving average price is C$60.62. BCE has a twelve month low of C$50.72 and a twelve month high of C$62.75. The firm has a market cap of $54.33 billion and a P/E ratio of 18.97. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 133.90.

BCE (TSE:BCE) (NYSE:BCE) last announced its earnings results on Thursday, May 2nd. The company reported C$0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.78 by C($0.01). The business had revenue of C$5.73 billion for the quarter, compared to analysts’ expectations of C$5.72 billion. Equities analysts predict that BCE will post 3.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.7925 per share. This represents a $3.17 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date is Thursday, June 13th. BCE’s dividend payout ratio (DPR) is presently 95.88%.

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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Analyst Recommendations for BCE (TSE:BCE)

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