BCE (NYSE:BCE) Hits New 52-Week Low – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $22.63 and last traded at $22.68, with a volume of 482837 shares traded. The stock had previously closed at $23.16.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BCE shares. National Bank Financial lowered BCE from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley initiated coverage on shares of BCE in a research report on Monday, December 16th. They set an “underweight” rating for the company. Canaccord Genuity Group restated a “hold” rating on shares of BCE in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their target price on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, BCE has an average rating of “Hold” and an average target price of $45.00.

BCE Trading Down 2.0 %

The stock’s fifty day simple moving average is $28.53 and its two-hundred day simple moving average is $32.03. The firm has a market cap of $20.70 billion, a PE ratio of 324.14, a PEG ratio of 4.04 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26.

BCE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.99%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio (DPR) is 4,214.29%.

Institutional Investors Weigh In On BCE

Hedge funds have recently added to or reduced their stakes in the stock. DGS Capital Management LLC boosted its stake in BCE by 55.9% in the 3rd quarter. DGS Capital Management LLC now owns 12,845 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 4,605 shares in the last quarter. Logan Capital Management Inc. raised its holdings in BCE by 4.5% in the third quarter. Logan Capital Management Inc. now owns 103,643 shares of the utilities provider’s stock worth $3,607,000 after buying an additional 4,438 shares during the last quarter. Old North State Trust LLC lifted its stake in shares of BCE by 25.2% in the third quarter. Old North State Trust LLC now owns 7,786 shares of the utilities provider’s stock worth $271,000 after buying an additional 1,566 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of BCE by 138.1% during the third quarter. Tidal Investments LLC now owns 14,884 shares of the utilities provider’s stock valued at $518,000 after buying an additional 8,633 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of BCE during the third quarter valued at approximately $137,000. 41.46% of the stock is owned by institutional investors.

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.