BCE (TSE:BCE) Reaches New 52-Week Low - Here's What Happened

Shares of BCE Inc. (TSE:BCE - Get Free Report) NYSE: BCE hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$37.29 and last traded at C$37.35, with a volume of 1009001 shares traded. The stock had previously closed at C$37.74.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Cormark cut their target price on shares of BCE from C$53.00 to C$52.00 in a research report on Friday, August 2nd. National Bank Financial lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Barclays cut their price objective on BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of BCE from C$47.00 to C$41.00 in a research note on Friday, November 8th. Finally, TD Securities dropped their price objective on shares of BCE from C$43.00 to C$39.00 in a research note on Monday, November 11th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$45.36.

BCE Stock Performance

The business has a 50-day moving average of C$44.28 and a 200 day moving average of C$45.44. The company has a market cap of C$34.00 billion, a PE ratio of 17.33, a PEG ratio of 4.67 and a beta of 0.48. 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued 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 yield of 10.71%. BCE's dividend payout ratio is currently 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.