BCE (TSE:BCE) Reaches New 12-Month Low – What’s Next?

BCE Inc. (TSE:BCE) (NYSE:BCE) shares reached a new 52-week low during trading on Thursday . The stock traded as low as C$37.29 and last traded at C$37.35, with a volume of 1009001 shares changing hands. The stock had previously closed at C$37.74.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BCE. TD Securities lowered their target price on BCE from C$43.00 to C$39.00 in a research report on Monday, November 11th. National Bankshares decreased their price target on BCE from C$48.00 to C$42.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on BCE from C$47.00 to C$45.00 in a research note on Monday, November 11th. Desjardins raised their price objective on BCE from C$48.00 to C$51.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Scotiabank reduced their price objective on BCE from C$50.50 to C$47.50 in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$45.36.

BCE Trading Down 1.9 %

The company has a debt-to-equity ratio of 197.43, a current ratio of 0.65 and a quick ratio of 0.43. The company has a fifty day moving average of C$44.51 and a 200-day moving average of C$45.49. The firm has a market capitalization of C$33.78 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.9975 per share. The ex-dividend date is Monday, December 16th. This represents a $3.99 annualized dividend and a dividend yield of 10.78%. BCE’s dividend 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.