BCE (NYSE:BCE) Hits New 1-Year Low – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $22.63 and last traded at $22.68, with a volume of 482837 shares traded. The stock had previously closed at $23.16.

Analysts Set New Price Targets

Several research analysts recently commented on BCE shares. Morgan Stanley started coverage on shares of BCE in a research note on Monday, December 16th. They set an “underweight” rating for the company. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Barclays reduced their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, BMO Capital Markets increased their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BCE currently has a consensus rating of “Hold” and a consensus price target of $45.00.

BCE Stock Up 0.3 %

The company has a market cap of $20.89 billion, a PE ratio of 327.14, a P/E/G ratio of 4.04 and a beta of 0.54. The business has a 50-day simple moving average of $28.33 and a 200-day simple moving average of $31.93. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.737 per share. The ex-dividend date is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a yield of 12.87%. BCE’s dividend payout ratio is currently 4,214.29%.

Institutional Trading of BCE

Institutional investors and hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC boosted its holdings in BCE by 55.9% in the 3rd quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock worth $447,000 after buying an additional 4,605 shares during the last quarter. Logan Capital Management Inc. lifted its position in shares of BCE by 4.5% in the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock valued at $3,607,000 after acquiring an additional 4,438 shares in the last quarter. Old North State Trust LLC boosted its stake in shares of BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 1,566 shares during the last quarter. Tidal Investments LLC increased its position in shares of BCE by 138.1% during the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 8,633 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in BCE in the 3rd quarter valued at $137,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

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.