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

BCE Inc. (TSE:BCE) (NYSE:BCE)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$33.44 and last traded at C$33.50, with a volume of 3795194 shares trading hands. The stock had previously closed at C$34.05.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Securities lowered their price objective on shares of BCE from C$39.00 to C$37.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. BMO Capital Markets boosted their price target on BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. National Bankshares reduced their price objective on BCE from C$48.00 to C$42.00 in a research note on Tuesday, November 5th. Canaccord Genuity Group decreased their target price on BCE from C$37.50 to C$33.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, National Bank Financial cut shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$43.38.

BCE Price Performance

The company has a 50 day moving average price of C$40.40 and a 200-day moving average price of C$44.21. The company has a market cap of C$30.37 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 4.67 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43.

BCE Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a $0.9975 dividend. This represents a $3.99 annualized dividend and a yield of 11.99%. The ex-dividend date is Monday, December 16th. BCE’s dividend payout ratio (DPR) is currently 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.