BCE (TSE:BCE) Reaches New 52-Week Low – What’s Next?

BCE Inc. (TSE:BCE) (NYSE:BCE) reached a new 52-week low on Tuesday . The company traded as low as C$31.43 and last traded at C$32.25, with a volume of 4271420 shares changing hands. The stock had previously closed at C$33.38.

Analysts Set New Price Targets

Several research analysts recently issued reports on BCE shares. Scotiabank lowered their target price on BCE from C$45.00 to C$42.00 in a research report on Tuesday, November 26th. Royal Bank of Canada cut their price objective on BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on shares of BCE from C$41.00 to C$35.00 and set a “neutral” rating for the company in a research report on Thursday, January 2nd. Barclays dropped their price target on shares of BCE from C$46.00 to C$41.00 in a research report on Monday, November 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of 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. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, BCE currently has a consensus rating of “Hold” and an average target price of C$41.88.

BCE Trading Down 3.7 %

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 company has a 50-day moving average price of C$36.10. The company has a market capitalization of C$29.33 billion, a P/E ratio of 14.95, a P/E/G ratio of 4.67 and a beta of 0.48.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be paid a $0.9975 dividend. 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 12.41%. 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.