BT Group (BT) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of BT Group (NYSE:BT) from a hold rating to a sell rating in a research report released on Friday morning, Zacks.com reports.

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 brokerages have also recently weighed in on BT. ValuEngine cut shares of BT Group from a hold rating to a sell rating in a research report on Saturday, April 13th. Jefferies Financial Group started coverage on shares of BT Group in a research report on Thursday, March 21st. They issued a buy rating on the stock. Berenberg Bank cut shares of BT Group from a buy rating to a hold rating in a research report on Tuesday, February 26th. Bank of America cut shares of BT Group from a buy rating to a neutral rating in a research report on Thursday, January 31st. Finally, JPMorgan Chase & Co. upgraded shares of BT Group from a neutral rating to an overweight rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. BT Group has a consensus rating of Hold and an average target price of $17.00.

BT Group stock opened at $15.05 on Friday. The company has a market cap of $29.88 billion, a PE ratio of 8.14 and a beta of 0.59. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. BT Group has a 1 year low of $13.53 and a 1 year high of $17.33.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp boosted its stake in BT Group by 3.3% during the fourth quarter. Northern Trust Corp now owns 1,746,659 shares of the utilities provider’s stock worth $26,549,000 after buying an additional 56,506 shares during the period. Glenmede Trust Co. NA purchased a new position in BT Group during the third quarter worth $148,000. Checchi Capital Advisers LLC purchased a new position in BT Group during the fourth quarter worth $164,000. LPL Financial LLC purchased a new position in BT Group during the third quarter worth $151,000. Finally, Lindbrook Capital LLC purchased a new position in BT Group during the fourth quarter worth $45,000. 0.95% of the stock is owned by institutional investors.

About BT Group

BT Group plc provides communications services worldwide. Its Consumer segment sells telephones, baby monitors, and Wi-Fi extenders through high street retailers, online BT Shop, and Website BT.com; and offers home phone, copper and fiber broadband, TV, and mobile services in various packages. The company's EE segment offers 2G, 3G, and 4G mobile network services; broadband, fixed-voice, and TV services; and postpaid and prepaid plans, and emergency services network.

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