BCE (NYSE:BCE) Hits New 12-Month Low – What’s Next?

BCE Inc. (NYSE:BCE) (TSE:BCE) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.13 and last traded at $26.18, with a volume of 523087 shares. The stock had previously closed at $26.90.

Wall Street Analyst Weigh In

BCE has been the topic of several analyst reports. National Bank Financial cut BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Barclays dropped their target price on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Canaccord Genuity Group downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group reissued a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Finally, BMO Capital Markets raised their price objective on shares of BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BCE currently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Trading Down 1.9 %

The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $23.69 billion, a P/E ratio of 371.00, a price-to-earnings-growth ratio of 4.17 and a beta of 0.54. The firm has a fifty day moving average price of $30.00 and a 200-day moving average price of $32.55.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.35%. This is a boost from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s payout ratio is presently 4,214.29%.

Hedge Funds Weigh In On BCE

Several institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in BCE by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 675 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of BCE in the 3rd quarter worth approximately $51,000. Brown Lisle Cummings Inc. lifted its stake in BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in BCE by 321.0% during the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,268 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in BCE during the third quarter valued at $65,000. Institutional investors own 41.46% of the company’s stock.

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.