Zacks Investment Research Upgrades BT Group (BT) to Buy

BT Group (NYSE:BT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $21.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.94% from the company’s previous close.

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 research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of BT Group from a “neutral” rating to a “buy” rating in a report on Wednesday, December 13th. Morgan Stanley reduced their target price on shares of BT Group from GBX 350 ($4.92) to GBX 320 ($4.49) and set an “equal weight” rating for the company in a report on Wednesday, October 4th. ValuEngine upgraded shares of BT Group from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Citigroup restated a “neutral” rating on shares of BT Group in a report on Friday, November 24th. Finally, Numis Securities restated a “buy” rating and set a GBX 390 ($5.48) target price on shares of BT Group in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. BT Group has a consensus rating of “Hold” and a consensus price target of $317.12.

Shares of BT Group (NYSE:BT) traded up $0.36 during mid-day trading on Wednesday, hitting $18.76. 4,160,864 shares of the stock traded hands, compared to its average volume of 1,005,170. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.77 and a quick ratio of 0.75. BT Group has a 52 week low of $16.15 and a 52 week high of $21.16. The company has a market capitalization of $36,634.56, a P/E ratio of 18.39 and a beta of 0.98.

BT Group (NYSE:BT) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter. BT Group had a net margin of 6.52% and a return on equity of 34.46%. The business had revenue of $7.79 billion during the quarter. sell-side analysts predict that BT Group will post 1.86 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in BT Group in the third quarter valued at $224,000. FDx Advisors Inc. acquired a new stake in BT Group in the third quarter valued at $233,000. Raymond James Financial Services Advisors Inc. lifted its stake in BT Group by 7.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,935 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 1,204 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in BT Group by 8,240.7% in the second quarter. JPMorgan Chase & Co. now owns 23,354 shares of the utilities provider’s stock valued at $453,000 after acquiring an additional 23,074 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in BT Group by 47.0% in the third quarter. Sei Investments Co. now owns 23,616 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 7,549 shares during the last quarter. Hedge funds and other institutional investors own 0.92% of the company’s stock.

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BT Group Company Profile

BT Group plc is a communications services company. The Company is engaged in selling fixed-voice services, broadband, mobile and television products and services, as well as managed networked information technology (IT) solutions and cyber security protection. Its segments include Consumer, which provides fixed-voice, broadband, TV and mobile services; EE, which is a mobile network operator in the United Kingdom and provides mobile and fixed communications services to consumers; Business and Public Sector, which provides communications and IT services to businesses and the public sector in the United Kingdom and the Republic of Ireland (RoI) ;Global Services, which provides managed networked IT services to corporate customers; Wholesale and Ventures, which provides fixed and mobile services to communications providers (CPs); and Openreach, which provides copper and fiber connections between its exchanges and homes and businesses.

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