BCE (TSE:BCE) Sets New 1-Year Low - Here's Why

Shares of 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$32.44 and last traded at C$32.63, with a volume of 3703728 shares traded. The stock had previously closed at C$33.28.

Wall Street Analysts Forecast Growth

BCE has been the topic of a number of research reports. National Bankshares reduced their price target on shares of BCE from C$48.00 to C$42.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on BCE from C$47.00 to C$41.00 in a report on Friday, November 8th. Barclays dropped their price target on BCE from C$46.00 to C$41.00 in a research note on Monday, November 11th. Scotiabank decreased their price objective on BCE from C$45.00 to C$42.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets raised their target price on shares of BCE from C$48.00 to C$51.00 in a report on Thursday, September 19th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$43.38.

BCE Trading Down 1.4 %

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 market capitalization of C$29.95 billion, a P/E ratio of 15.27, a PEG ratio of 4.67 and a beta of 0.48. The business's 50-day moving average price is C$39.90.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.9975 per share. This represents a $3.99 dividend on an annualized basis and a yield of 12.15%. The ex-dividend date is Monday, December 16th. 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.