BT Group PLC (BT) Lowered to Hold at Zacks Investment Research
BT Group PLC (NYSE:BT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Several other analysts have also recently weighed in on the company. Beaufort Securities cut their price objective on BT Group PLC from GBX 390 ($5.06) to GBX 340 ($4.41) and set a “buy” rating on the stock in a research report on Friday, May 12th. Deutsche Bank AG reaffirmed a “sell” rating on shares of BT Group PLC in a research report on Friday, April 28th. Bank of America Corporation cut BT Group PLC from a “buy” rating to a “neutral” rating in a research report on Monday, June 19th. Exane BNP Paribas cut BT Group PLC from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 25th. Finally, Macquarie raised BT Group PLC from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $270.00 to $330.00 in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. BT Group PLC currently has an average rating of “Hold” and a consensus price target of $339.33.
Shares of BT Group PLC (BT) opened at 19.08 on Tuesday. BT Group PLC has a 52-week low of $18.06 and a 52-week high of $26.76. The firm has a 50 day moving average price of $19.86 and a 200-day moving average price of $19.88. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 18.26 and a beta of 1.05.
Several large investors have recently modified their holdings of the stock. Guggenheim Capital LLC acquired a new stake in shares of BT Group PLC during the fourth quarter worth about $393,000. Bank of Montreal Can increased its stake in shares of BT Group PLC by 252.2% in the first quarter. Bank of Montreal Can now owns 46,862 shares of the utilities provider’s stock worth $941,000 after buying an additional 33,555 shares during the last quarter. Profund Advisors LLC increased its stake in shares of BT Group PLC by 51.0% in the first quarter. Profund Advisors LLC now owns 55,954 shares of the utilities provider’s stock worth $1,124,000 after buying an additional 18,887 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in shares of BT Group PLC during the first quarter worth about $1,240,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of BT Group PLC during the first quarter worth about $1,557,000. 1.03% of the stock is owned by hedge funds and other institutional investors.
About BT Group PLC
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