BCE (TSE:BCE) Reaches 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 Tuesday . The company traded as low as C$31.43 and last traded at C$32.25, with a volume of 4271420 shares trading hands. The stock had previously closed at C$33.38.

Analyst Upgrades and Downgrades

BCE has been the subject of several recent analyst reports. National Bankshares reduced their price objective on shares of BCE from C$37.00 to C$35.00 and set a "sector perform" rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada reduced their price target on shares of BCE from C$45.00 to C$41.00 and set a "sector perform" rating for the company in a research report on Wednesday, December 18th. National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Canaccord Genuity Group reduced their target price on BCE from C$37.50 to C$33.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price target on BCE from C$41.00 to C$35.00 and set a "neutral" rating on the stock in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of C$41.88.

BCE Trading Down 3.0 %

The company has a debt-to-equity ratio of 197.43, a quick ratio of 0.43 and a current ratio of 0.65. The firm has a 50-day moving average of C$35.95 and a 200-day moving average of C$42.48. The firm has a market capitalization of C$29.55 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a $0.9975 dividend. This represents a $3.99 annualized dividend and a dividend yield of 12.32%. The ex-dividend date is Monday, December 16th. 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.