BCE (TSE:BCE) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

BCE Inc. (TSE:BCE) (NYSE:BCE) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.00 and traded as high as C$33.85. BCE shares last traded at C$33.78, with a volume of 4,411,591 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCE. Royal Bank of Canada decreased their price target on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 18th. TD Securities boosted their target price on shares of BCE from C$31.00 to C$33.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from C$35.00 to C$29.00 in a research report on Friday, February 7th. Barclays downgraded shares of BCE from an “equal weight” rating to an “underperform” rating and decreased their target price for the stock from C$41.00 to C$30.00 in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group boosted their price target on shares of BCE from C$33.00 to C$33.50 and gave the stock a “hold” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$40.42.

BCE Stock Up 0.6 %

The stock’s fifty day moving average is C$33.74 and its two-hundred day moving average is C$40.56. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73. The firm has a market cap of C$30.19 billion, a P/E ratio of 111.82, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were issued a $0.9975 dividend. This represents a $3.99 dividend on an annualized basis and a dividend yield of 11.97%. The ex-dividend date was Monday, December 16th. BCE’s payout ratio is 1,338.57%.

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.