BCE (NYSE:BCE) Hits New 52-Week Low at $46.37

BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) reached a new 52-week low during trading on Wednesday . The company traded as low as $46.37 and last traded at $46.52, with a volume of 25997 shares traded. The stock had previously closed at $47.46.

Analysts Set New Price Targets

A number of research firms recently issued reports on BCE. Canaccord Genuity Group decreased their price objective on BCE from C$70.00 to C$66.00 in a report on Friday, July 22nd. Barclays raised their price target on BCE from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Finally, Scotiabank raised their price target on BCE from C$68.50 to C$69.00 in a research note on Tuesday, September 6th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.10.

BCE Price Performance

The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 4.10 and a beta of 0.49. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 0.65. The company has a fifty day simple moving average of $49.36 and a two-hundred day simple moving average of $52.13.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last issued its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. BCE had a return on equity of 15.73% and a net margin of 12.40%. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.87 billion. During the same quarter in the previous year, the company posted $0.68 EPS. BCE’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that BCE Inc. will post 2.62 earnings per share for the current fiscal year.

BCE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 15th will be paid a dividend of $0.719 per share. This is an increase from BCE’s previous quarterly dividend of $0.72. This represents a $2.88 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, September 14th. BCE’s dividend payout ratio is 114.06%.

Institutional Trading of BCE

Several institutional investors and hedge funds have recently modified their holdings of BCE. Capital Research Global Investors grew its holdings in BCE by 2.2% during the fourth quarter. Capital Research Global Investors now owns 30,063,234 shares of the utilities provider’s stock valued at $1,564,063,000 after purchasing an additional 651,805 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of BCE by 25.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,826,400 shares of the utilities provider’s stock worth $825,308,000 after buying an additional 3,450,800 shares in the last quarter. Bank of Nova Scotia raised its position in BCE by 47.9% during the second quarter. Bank of Nova Scotia now owns 13,889,035 shares of the utilities provider’s stock valued at $682,737,000 after purchasing an additional 4,501,302 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of BCE during the first quarter valued at about $12,960,000. Finally, Vanguard Group Inc. grew its stake in shares of BCE by 4.3% during the first quarter. Vanguard Group Inc. now owns 12,312,482 shares of the utilities provider’s stock valued at $682,849,000 after buying an additional 504,219 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.

About BCE

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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

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