BCE Inc. (BCE) Given New C$60.00 Price Target at CIBC

BCE Inc. (TSE:BCE) (NYSE:BCE) had its price objective increased by investment analysts at CIBC from C$59.00 to C$60.00 in a research note issued to investors on Monday. CIBC’s price target indicates a potential upside of 2.92% from the company’s previous close.

BCE has been the topic of several other research reports. Desjardins raised their price objective on shares of BCE from C$64.00 to C$65.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Canaccord Genuity decreased their price target on shares of BCE from C$64.00 to C$60.00 in a research note on Friday, February 3rd. Goldman Sachs Group Inc decreased their price target on shares of BCE from C$67.00 to C$65.00 in a research note on Wednesday, February 1st. Royal Bank of Canada downgraded shares of BCE from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$61.00 to C$60.00 in a research note on Monday, January 9th. Finally, Bank of America Corp decreased their price target on shares of BCE from C$64.00 to C$60.00 in a research note on Wednesday, December 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. BCE presently has a consensus rating of “Hold” and an average target price of C$61.31.

Analyst Recommendations for BCE (TSE:BCE)

BCE (TSE:BCE) traded down 1.53% during mid-day trading on Monday, hitting $57.41. 1,273,718 shares of the company were exchanged. BCE has a 12-month low of $56.80 and a 12-month high of $63.41. The stock’s 50 day moving average is $58.16 and its 200-day moving average is $58.97. The company has a market cap of $50.01 billion and a price-to-earnings ratio of 17.24.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.7175 per share. The ex-dividend date is Monday, March 13th. This represents a $2.87 dividend on an annualized basis and a yield of 4.92%. This is an increase from BCE’s previous quarterly dividend of $0.68.

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In other BCE news, Director Thomas (Tom) Little sold 10,523 shares of BCE stock in a transaction 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 Katherine M. Lee purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were acquired at an average price of C$57.57 per share, for a total transaction of C$57,570.00. Insiders have sold 108,818 shares of company stock worth $6,318,827 in the last quarter.

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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