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

BCE Inc. (TSE:BCE) (NYSE:BCE)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$36.87 and last traded at C$36.83, with a volume of 2873188 shares. The stock had previously closed at C$37.53.

Analyst Ratings Changes

BCE has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price target on shares of BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on shares of BCE from C$47.00 to C$41.00 in a research note on Friday, November 8th. National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. BMO Capital Markets boosted their price objective on shares of BCE from C$48.00 to C$51.00 in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reduced their price objective on shares of BCE from C$47.00 to C$45.00 in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$44.68.

BCE Stock Performance

The company’s fifty day moving average is C$41.74 and its 200 day moving average is C$44.67. The company has a market capitalization of C$33.59 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.67 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.43 and a debt-to-equity ratio of 197.43.

BCE Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 10.84%. The ex-dividend date is Monday, December 16th. BCE’s payout ratio is 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.