BCE (TSE:BCE) Sets New 1-Year Low on Analyst Downgrade

Shares of BCE Inc. (TSE:BCE - Get Free Report) NYSE: BCE hit a new 52-week low during trading on Tuesday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. Canaccord Genuity Group now has a C$41.00 price target on the stock, down from their previous price target of C$51.00. BCE traded as low as C$39.69 and last traded at C$40.86, with a volume of 5489758 shares. The stock had previously closed at C$40.47.

A number of other brokerages have also recently issued reports on BCE. Scotiabank dropped their target price on shares of BCE from C$50.50 to C$47.50 in a research report on Tuesday. TD Securities decreased their price target on BCE from C$50.00 to C$43.00 in a report on Tuesday. Royal Bank of Canada reduced their price target on BCE from C$52.00 to C$47.00 in a research report on Tuesday. National Bankshares lowered their target price on shares of BCE from C$48.00 to C$42.00 in a research note on Tuesday. Finally, National Bank Financial cut BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, BCE has a consensus rating of "Hold" and an average target price of C$47.23.

BCE Stock Performance

The business's fifty day simple moving average is C$46.60. The company has a market capitalization of C$36.40 billion, a PE ratio of 18.94, a price-to-earnings-growth 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.998 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.99 annualized dividend and a dividend yield of 10.01%. BCE's dividend payout ratio is 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.

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