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. “
A number of other brokerages also recently commented on BT. Bank of America downgraded shares of BT Group from a buy rating to a neutral rating in a report on Thursday, January 31st. Jefferies Financial Group initiated 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. JPMorgan Chase & Co. upgraded shares of BT Group from a neutral rating to an overweight rating in a report on Thursday, January 24th. Finally, ValuEngine downgraded shares of BT Group from a hold rating to a sell rating in a report on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. BT Group presently has an average rating of Hold and an average target price of $17.00.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of BT Group by 119.2% during the fourth 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 in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of BT Group during the fourth quarter valued at about $33,000. Proficio Capital Partners LLC increased its holdings in shares of BT Group by 61.2% during the fourth 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 in the last quarter. Lindbrook Capital LLC acquired a new position in shares of BT Group during the fourth quarter valued at about $45,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of BT Group during the first quarter valued at about $50,000. Hedge funds and other institutional investors own 0.95% of the company’s stock.
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.
Further Reading: What kind of dividend yield to CEF’s pay?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BT Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BT Group and related companies with MarketBeat.com's FREE daily email newsletter.