BT Group (BT) Downgraded by Zacks Investment Research
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 equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of BT Group from a hold rating to a sell rating in a report on Saturday, April 13th. Jefferies Financial Group assumed coverage on shares of BT Group in a report on Thursday, March 21st. They issued a buy rating for the company. Berenberg Bank downgraded shares of BT Group from a buy rating to a hold rating in a report on Tuesday, February 26th. Bank of America downgraded shares of BT Group from a buy rating to a neutral rating in a report on Thursday, January 31st. Finally, JPMorgan Chase & Co. raised shares of BT Group from a neutral rating to an overweight rating in a report on Thursday, January 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $17.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. lifted its holdings in BT Group by 119.2% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,190 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 1,191 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in BT Group in the 4th quarter valued at about $33,000. Proficio Capital Partners LLC lifted its holdings in BT Group by 61.2% in the 4th quarter. Proficio Capital Partners LLC now owns 2,511 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 953 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in BT Group in the 4th quarter valued at about $45,000. Finally, Contravisory Investment Management Inc. acquired a new stake in BT Group in the 1st quarter valued at about $50,000. 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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