BCE (TSE:BCE) Sets New 1-Year Low – Here’s Why

BCE Inc. (TSE:BCE) (NYSE:BCE) shares hit a new 52-week low during trading on Thursday . The stock traded as low as C$37.29 and last traded at C$37.35, with a volume of 1009001 shares traded. The stock had previously closed at C$37.74.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BCE. Canaccord Genuity Group reduced their target price on shares of BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. National Bankshares cut their price target on shares of BCE from C$48.00 to C$42.00 in a research note on Tuesday, November 5th. BMO Capital Markets increased their price target on shares of BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Royal Bank of Canada cut their price target on shares of BCE from C$47.00 to C$45.00 in a research note on Monday, November 11th. Finally, National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$45.36.

BCE Price Performance

The company has a market capitalization of C$34.14 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company’s 50-day moving average price is C$44.06 and its two-hundred day moving average price is C$45.38. The company has a debt-to-equity ratio of 197.43, a current ratio of 0.65 and a quick ratio of 0.43.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.9975 dividend. This represents a $3.99 annualized dividend and a dividend yield of 10.66%. The ex-dividend date of this dividend is Monday, December 16th. BCE’s payout ratio is presently 185.58%.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.