BT Group PLC (BT) Downgraded by Zacks Investment Research
BT Group PLC (NYSE:BT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “BT is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. “
BT has been the subject of a number of other reports. Haitong Bank decreased their price objective on shares of BT Group PLC from GBX 600 ($7.83) to GBX 560 ($7.31) and set a “buy” rating for the company in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of BT Group PLC in a report on Wednesday, July 27th. Barclays PLC reiterated an “overweight” rating on shares of BT Group PLC in a report on Tuesday, August 23rd. Deutsche Bank AG reiterated a “sell” rating and issued a GBX 410 ($5.35) price objective on shares of BT Group PLC in a report on Wednesday, July 20th. Finally, Morgan Stanley decreased their price objective on shares of BT Group PLC from GBX 500 ($6.53) to GBX 480 ($6.27) and set an “equal weight” rating for the company in a report on Friday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. BT Group PLC presently has a consensus rating of “Hold” and an average price target of $453.39.
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Shares of BT Group PLC (NYSE:BT) traded up 1.77% during mid-day trading on Wednesday, reaching $25.81. The company had a trading volume of 388,893 shares. The company has a market capitalization of $51.27 billion, a PE ratio of 13.24 and a beta of 1.09. The company’s 50-day moving average price is $26.12 and its 200-day moving average price is $29.47. BT Group PLC has a 52-week low of $24.36 and a 52-week high of $37.69.
A number of hedge funds and other institutional investors have recently bought and sold shares of BT. Miller Howard Investments Inc. NY acquired a new position in BT Group PLC during the second quarter valued at about $7,453,000. Thornburg Investment Management Inc. acquired a new position in BT Group PLC during the second quarter valued at about $6,736,000. Renaissance Technologies LLC raised its position in BT Group PLC by 4.5% in the first quarter. Renaissance Technologies LLC now owns 3,871,801 shares of the company’s stock valued at $124,207,000 after buying an additional 165,101 shares during the period. Royal Bank of Canada raised its position in BT Group PLC by 19.9% in the first quarter. Royal Bank of Canada now owns 741,807 shares of the company’s stock valued at $23,796,000 after buying an additional 122,967 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in BT Group PLC during the first quarter valued at about $3,305,000. 1.17% of the stock is owned by hedge funds and other institutional investors.
About BT Group PLC
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