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

BCE Inc. (TSE:BCE) (NYSE:BCE) reached a new 52-week low on Monday . The company traded as low as C$32.44 and last traded at C$32.63, with a volume of 3703728 shares. The stock had previously closed at C$33.28.

Wall Street Analysts Forecast Growth

BCE has been the subject of a number of analyst reports. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. National Bankshares reduced their target price on BCE from C$48.00 to C$42.00 in a research note on Tuesday, November 5th. Scotiabank reduced their target price on BCE from C$45.00 to C$42.00 in a research note on Tuesday, November 26th. Canaccord Genuity Group reduced their target price on BCE from C$37.50 to C$33.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Barclays reduced their target price on BCE from C$46.00 to C$41.00 in a research note on Monday, November 11th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, BCE presently has a consensus rating of “Hold” and an average target price of C$43.38.

BCE Price Performance

The stock has a market capitalization of C$30.04 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a 50-day simple moving average of C$39.40 and a two-hundred day simple moving average of C$43.83. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be paid a $0.9975 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 annualized dividend and a dividend yield of 12.12%. 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.