BCE (TSE:BCE) Reaches New 12-Month Low – Here’s What Happened

BCE Inc. (TSE:BCE) (NYSE:BCE) 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 changing hands. The stock had previously closed at C$37.53.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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. TD Securities reduced their price objective on BCE from C$39.00 to C$37.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Scotiabank lowered their target price on BCE from C$45.00 to C$42.00 in a research report on Tuesday, November 26th. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, National Bankshares lowered their price objective on BCE from C$48.00 to C$42.00 in a research report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$44.68.

BCE Stock Down 1.1 %

The firm has a market cap of C$33.13 billion, a PE ratio of 17.09, 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$41.32 and a 200-day simple moving average of C$44.54. 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 10.99%. BCE’s payout ratio is 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.