BCE (TSE:BCE) Sets New 52-Week Low – Here’s Why

BCE Inc. (TSE:BCE) (NYSE:BCE) shares reached a new 52-week low on Tuesday . The company traded as low as C$31.43 and last traded at C$32.25, with a volume of 4271420 shares changing hands. The stock had previously closed at C$33.38.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Securities decreased their price objective on shares of BCE from C$37.00 to C$32.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada decreased their price target on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 18th. Barclays cut their price objective on shares of BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. Canaccord Genuity Group decreased their target price on BCE from C$41.00 to C$37.50 in a research report on Friday, November 8th. Finally, BMO Capital Markets lifted their price target on BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$41.88.

BCE Trading Up 0.9 %

The firm has a market capitalization of C$29.96 billion, a P/E ratio of 15.27, a PEG 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. The firm has a 50 day moving average of C$35.80 and a 200-day moving average of C$42.41.

BCE Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.9975 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a dividend yield of 12.15%. 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.