Zacks Investment Research upgraded shares of BT Group (NYSE:BT) from a sell rating to a hold rating in a report released on Tuesday morning.
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. “
Separately, Royal Bank of Canada downgraded shares of BT Group from an outperform rating to a hold rating in a report on Wednesday, July 25th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $188.00.
BT opened at $17.15 on Tuesday. BT Group has a 52 week low of $13.53 and a 52 week high of $18.97. The stock has a market cap of $30.80 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 9.38 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.16.
Several large investors have recently made changes to their positions in BT. UBS Group AG lifted its holdings in shares of BT Group by 43.8% in the 1st quarter. UBS Group AG now owns 52,733 shares of the utilities provider’s stock valued at $852,000 after acquiring an additional 16,074 shares during the last quarter. Barclays PLC lifted its holdings in shares of BT Group by 377.3% in the 1st quarter. Barclays PLC now owns 10,500 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 8,300 shares during the last quarter. LPL Financial LLC bought a new position in shares of BT Group in the 1st quarter valued at about $228,000. Guggenheim Capital LLC bought a new position in shares of BT Group in the 1st quarter valued at about $591,000. Finally, Millennium Management LLC lifted its holdings in shares of BT Group by 126.9% in the 1st quarter. Millennium Management LLC now owns 323,951 shares of the utilities provider’s stock valued at $5,235,000 after acquiring an additional 181,179 shares during the last quarter. 0.79% of the stock is owned by hedge funds and other 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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