BCE Inc. (BCE) Downgraded by TD Securities

TD Securities cut shares of BCE Inc. (TSE:BCE) (NYSE:BCE) from a buy rating to a hold rating in a research note released on Thursday morning. The brokerage currently has C$59.00 target price on the stock, down from their previous target price of C$64.00.

Several other brokerages also recently commented on BCE. Royal Bank Of Canada reduced their target price on shares of BCE from C$60.00 to C$59.00 and set a sector perform rating for the company in a report on Friday, February 3rd. Desjardins lifted their target price on shares of BCE from C$64.00 to C$65.00 and gave the stock a buy rating in a report on Thursday, February 16th. Canaccord Genuity reduced their target price on shares of BCE from C$64.00 to C$60.00 in a report on Friday, February 3rd. National Bank Financial reduced their target price on shares of BCE from C$60.00 to C$59.00 and set a sector perform rating for the company in a report on Friday, February 3rd. Finally, Goldman Sachs Group, Inc. (The) reduced their target price on shares of BCE from C$67.00 to C$65.00 in a report on Wednesday, February 1st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of C$61.42.

Analyst Recommendations for BCE (TSE:BCE)

BCE (TSE:BCE) opened at 58.76 on Thursday. The company has a 50-day moving average of $58.30 and a 200 day moving average of $59.59. BCE has a 52-week low of $56.69 and a 52-week high of $63.41. The firm has a market cap of $51.16 billion and a price-to-earnings ratio of 17.65.

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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Wednesday, March 15th will be given a dividend of $0.7175 per share. This represents a $2.87 dividend on an annualized basis and a yield of 4.88%. This is a boost from BCE’s previous quarterly dividend of $0.68.

In related news, Director Thomas (Tom) Little sold 10,523 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of C$58.56, for a total transaction of C$616,226.88. Also, Director George Cope sold 16,488 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of C$58.14, for a total transaction of C$958,612.32.

About BCE

BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.

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