BCE (TSE:BCE) Hits New 12-Month Low – Time to Sell?

BCE Inc. (TSE:BCE) (NYSE:BCE) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$31.99 and last traded at C$32.34, with a volume of 2643689 shares trading hands. The stock had previously closed at C$32.65.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCE. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Canaccord Genuity Group decreased their price target on shares of BCE from C$41.00 to C$37.50 in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price target on shares of BCE from C$47.00 to C$41.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$43.38.

BCE Stock Down 0.9 %

The stock has a market capitalization of C$29.52 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.67 and a beta of 0.48. The stock has a 50-day simple moving average of C$38.62. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 12.33%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio (DPR) is currently 185.58%.

About BCE

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.