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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays decreased their price target on BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. Scotiabank decreased their price target on BCE from C$45.00 to C$42.00 in a research report on Tuesday, November 26th. Canaccord Genuity Group decreased their price target on BCE from C$37.50 to C$33.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada decreased their price target on BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. decreased their price target on BCE from C$47.00 to C$41.00 in a research report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, BCE presently has an average rating of “Hold” and a consensus target price of C$43.38.

BCE Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The stock has a market cap 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’s 50-day moving average is C$39.40 and its 200-day moving average is C$43.83.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.9975 per share. This represents a $3.99 annualized dividend and a dividend yield of 12.12%. 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.