BCE (TSE:BCE) Price Target Raised to C$41.50 at Scotiabank

Key Points

• Scotiabank has raised its price target for BCE stock from C$39.50 to C$41.50, indicating a potential upside of 23.44% from its previous close.
• Market analysts have mixed ratings for BCE, with one Strong Buy, three Buy, seven Hold, and two Sell ratings, resulting in an average target of C$34.88.
• As of the latest trading, BCE shares are priced at C$33.62, below both the new price target and its twelve-month high of C$49.13.

BCE (TSE:BCE - Free Report) NYSE: BCE had its price objective lifted by Scotiabank from C$39.50 to C$41.50 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently commented on BCE. Desjardins increased their price target on shares of BCE from C$40.00 to C$40.50 and gave the stock a "buy" rating in a research report on Sunday, August 10th. UBS Group reduced their price target on shares of BCE from C$34.00 to C$32.00 in a research report on Wednesday, May 21st. BMO Capital Markets reduced their price target on shares of BCE from C$51.00 to C$35.00 and set a "market perform" rating on the stock in a research report on Tuesday, August 5th. CIBC increased their price target on shares of BCE from C$35.00 to C$36.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Finally, National Bankshares set a C$35.00 price target on shares of BCE and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of C$34.88.

BCE Stock Down 0.4%

Shares of TSE BCE traded down C$0.13 during midday trading on Monday, reaching C$33.46. 3,689,815 shares of the company's stock were exchanged, compared to its average volume of 3,713,522. BCE has a 52-week low of C$28.73 and a 52-week high of C$49.13. The stock has a market capitalization of C$30.84 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 4.67 and a beta of 0.65. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. The business's fifty day moving average price is C$33.57 and its two-hundred day moving average price is C$32.01.

BCE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.75 dividend on an annualized basis and a yield of 5.2%. BCE's dividend payout ratio (DPR) is currently 745.65%.

BCE Company Profile

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.