BT Group PLC (BT) Stock Rating Lowered 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 note issued to investors on Monday.
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. “
Other equities research analysts have also issued research reports about the company. Deutsche Bank AG restated a “sell” rating and set a GBX 390 ($4.75) target price on shares of BT Group PLC in a research report on Tuesday, September 13th. Haitong Bank restated a “buy” rating and set a GBX 560 ($6.83) target price on shares of BT Group PLC in a research report on Tuesday, October 4th. Macquarie lowered BT Group PLC from a “neutral” rating to an “underperform” rating and cut their target price for the company from $360.00 to $310.00 in a research report on Friday, October 7th. TheStreet lowered BT Group PLC from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of BT Group PLC in a research report on Monday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $451.17.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/bt-group-plc-bt-stock-rating-lowered-by-zacks-investment-research.html
Shares of BT Group PLC (NYSE:BT) traded up 1.17% during midday trading on Monday, reaching $23.33. The company had a trading volume of 441,465 shares. BT Group PLC has a 12-month low of $22.49 and a 12-month high of $37.69. The stock’s 50 day moving average is $25.15 and its 200-day moving average is $28.51. The stock has a market capitalization of $46.35 billion, a PE ratio of 12.54 and a beta of 1.14.
A number of institutional investors have recently made changes to their positions in BT. Miller Howard Investments Inc. NY bought a new position in BT Group PLC during the second quarter worth approximately $7,453,000. Thornburg Investment Management Inc. bought a new position in BT Group PLC during the second quarter worth approximately $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 worth $124,207,000 after buying an additional 165,101 shares during the last quarter. 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 worth $23,796,000 after buying an additional 122,967 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in BT Group PLC during the first quarter worth approximately $3,305,000. 1.17% of the stock is owned by institutional investors and hedge funds.
About BT Group PLC
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BT Group PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BT Group PLC and related companies with MarketBeat.com's FREE daily email newsletter.