BT Group PLC (BT) Cut to “Neutral” at Bank of America Corporation

Bank of America Corporation cut shares of BT Group PLC (NYSE:BT) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat.com reports.

Several other research firms also recently weighed in on BT. HSBC Holdings plc restated a buy rating and issued a GBX 425 ($5.41) price objective on shares of BT Group PLC in a report on Monday, March 13th. Credit Suisse Group restated a neutral rating and issued a GBX 400 ($5.10) price objective on shares of BT Group PLC in a report on Thursday, March 30th. Zacks Investment Research upgraded BT Group PLC from a sell rating to a hold rating in a report on Monday, April 3rd. Deutsche Bank AG restated a sell rating and issued a GBX 265 ($3.38) price objective on shares of BT Group PLC in a report on Thursday, June 15th. Finally, Barclays PLC restated an overweight rating and issued a GBX 450 ($5.73) price objective on shares of BT Group PLC in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. BT Group PLC presently has a consensus rating of Hold and an average target price of $344.59.

Analyst Recommendations for BT Group PLC (NYSE:BT)

BT Group PLC (NYSE BT) opened at 18.15 on Monday. BT Group PLC has a 52 week low of $18.08 and a 52 week high of $32.85. The company has a 50 day moving average of $19.84 and a 200 day moving average of $20.79. The company has a market capitalization of $35.90 billion, a price-to-earnings ratio of 15.00 and a beta of 1.03.

BT Group PLC (NYSE:BT) last released its quarterly earnings data on Wednesday, May 10th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.88 billion. BT Group PLC had a return on equity of 36.64% and a net margin of 8.48%. On average, equities analysts forecast that BT Group PLC will post $3.83 EPS for the current fiscal year.

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The firm also recently declared a semiannual dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.6804 per share. The ex-dividend date is Wednesday, August 9th. This represents a dividend yield of 6.86%. BT Group PLC’s payout ratio is 70.87%.

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of BT Group PLC during the first quarter worth $12,554,000. Karp Capital Management Corp acquired a new stake in shares of BT Group PLC during the first quarter worth $6,762,000. Fiera Capital Corp acquired a new stake in shares of BT Group PLC during the fourth quarter worth $4,629,000. Federated Investors Inc. PA acquired a new stake in shares of BT Group PLC during the fourth quarter worth $2,259,000. Finally, BB&T Securities LLC acquired a new stake in shares of BT Group PLC during the first quarter worth $1,614,000. Institutional investors and hedge funds own 1.01% of the company’s stock.

About BT Group PLC

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