BCE (TSE:BCE) Reaches New 12-Month Low - Here's What Happened

BCE Inc. (TSE:BCE - Get Free Report) NYSE: BCE reached a new 52-week low during trading on Monday . The stock traded as low as C$31.99 and last traded at C$32.34, with a volume of 2643689 shares traded. The stock had previously closed at C$32.65.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BCE. Barclays cut their price target on BCE from C$46.00 to C$41.00 in a report on Monday, November 11th. Royal Bank of Canada cut their target price on 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. Scotiabank decreased their price target on BCE from C$45.00 to C$42.00 in a research note on Tuesday, November 26th. Canaccord Genuity Group cut their price objective on shares of BCE from C$37.50 to C$33.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Finally, TD Securities decreased their target price 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. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$43.38.

BCE Stock Down 0.9 %

The firm has a market capitalization of C$29.53 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth 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 business's 50 day moving average is C$38.34.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.9975 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.99 dividend on an annualized basis and a dividend yield of 12.33%. BCE's dividend payout ratio (DPR) is presently 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.