BCE (BCE) Sets New 1-Year Low at $53.87

BCE Inc. (TSE:BCE) (NYSE:BCE)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$53.87 and last traded at C$53.94, with a volume of 1294162 shares trading hands. The stock had previously closed at C$54.30.

BCE has been the subject of several analyst reports. National Bank Financial decreased their price objective on BCE from C$64.00 to C$63.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. JPMorgan Chase cut their price target on BCE from C$68.00 to C$62.00 in a research note on Monday, February 12th. Scotiabank cut their price target on BCE from C$61.00 to C$59.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Desjardins lowered BCE from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Citigroup cut their price target on BCE from C$66.00 to C$64.00 in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. BCE currently has an average rating of “Hold” and a consensus price target of C$61.91.

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BCE (TSE:BCE) (NYSE:BCE) last announced its quarterly earnings results on Thursday, February 8th. The company reported C$0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.74 by C$0.02. BCE had a return on equity of 20.55% and a net margin of 14.39%. The firm had revenue of C$5.96 billion during the quarter, compared to analyst estimates of C$5.95 billion. During the same quarter in the previous year, the business earned $0.62 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.755 per share. This is a positive change from BCE’s previous quarterly dividend of $0.72. This represents a $3.02 annualized dividend and a yield of 5.60%. The ex-dividend date is Wednesday, March 14th.

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About BCE

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 integrated digital wireless voice and data communications products and services.

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