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

BCE Inc. (TSE:BCE) (NYSE:BCE) hit a new 52-week low on Thursday . The stock traded as low as C$37.70 and last traded at C$37.71, with a volume of 4181923 shares changing hands. The stock had previously closed at C$38.09.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BCE. National Bank Financial lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of BCE from C$47.00 to C$45.00 in a report on Monday, November 11th. BMO Capital Markets upped their target price on shares of BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. National Bankshares lowered their target price on shares of BCE from C$48.00 to C$42.00 in a report on Tuesday, November 5th. Finally, Barclays lowered their target price on shares of BCE from C$46.00 to C$41.00 in a report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$45.36.

BCE Trading Up 0.2 %

The company has a market cap of C$34.49 billion, a P/E ratio of 17.59, a P/E/G ratio of 4.67 and a beta of 0.48. The stock’s 50-day moving average is C$45.10 and its two-hundred day moving average is C$45.64. 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. Shareholders of record on Monday, December 16th will be given a $0.9975 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 annualized dividend and a yield of 10.55%. BCE’s payout ratio is presently 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.