BCE (NYSE:BCE) Sets New 52-Week Low at $32.27

BCE Inc. (NYSE:BCE - Get Free Report) TSE: BCE reached a new 52-week low during trading on Friday . The stock traded as low as $32.27 and last traded at $32.27, with a volume of 995469 shares traded. The stock had previously closed at $32.79.

Wall Street Analyst Weigh In

BCE has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $46.00 price objective (down from $54.00) on shares of BCE in a research note on Tuesday, April 2nd. TD Securities lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Barclays lowered their target price on shares of BCE from $38.00 to $35.00 and set an "equal weight" rating for the company in a research note on Tuesday. Argus lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of BCE from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $49.00.

BCE Price Performance

The company has a debt-to-equity ratio of 1.84, a current ratio of 0.65 and a quick ratio of 0.61. The firm has a fifty day moving average of $35.67 and a two-hundred day moving average of $38.00. The stock has a market capitalization of $29.29 billion, a P/E ratio of 19.00, a P/E/G ratio of 4.38 and a beta of 0.56.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.82 billion. BCE had a return on equity of 17.13% and a net margin of 8.82%. On average, analysts predict that BCE Inc. will post 2.26 EPS for the current year.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $0.742 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from BCE's previous quarterly dividend of $0.70. This represents a $2.97 dividend on an annualized basis and a yield of 9.24%. BCE's payout ratio is currently 173.96%.

Hedge Funds Weigh In On BCE

A number of large investors have recently added to or reduced their stakes in the company. JCIC Asset Management Inc. raised its holdings in BCE by 26.5% in the fourth quarter. JCIC Asset Management Inc. now owns 1,189 shares of the utilities provider's stock worth $47,000 after purchasing an additional 249 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of BCE by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 31,420 shares of the utilities provider's stock valued at $1,238,000 after acquiring an additional 274 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of BCE by 0.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 48,401 shares of the utilities provider's stock valued at $1,847,000 after acquiring an additional 275 shares in the last quarter. Portside Wealth Group LLC increased its holdings in shares of BCE by 1.9% during the third quarter. Portside Wealth Group LLC now owns 15,280 shares of the utilities provider's stock valued at $586,000 after acquiring an additional 287 shares in the last quarter. Finally, L.M. Kohn & Company increased its holdings in shares of BCE by 2.3% during the third quarter. L.M. Kohn & Company now owns 13,629 shares of the utilities provider's stock valued at $520,000 after acquiring an additional 300 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors.

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.