BT Group (BT) Shares Down 5.3%
BT Group plc (NYSE:BT) dropped 5.3% on Friday . The company traded as low as $17.47 and last traded at $17.73. Approximately 2,913,763 shares traded hands during mid-day trading, an increase of 151% from the average daily volume of 1,162,459 shares. The stock had previously closed at $18.73.
BT has been the subject of a number of research reports. Numis Securities reiterated a “buy” rating and issued a GBX 390 ($5.48) price objective on shares of BT Group in a research note on Tuesday, October 31st. ValuEngine upgraded BT Group from a “hold” rating to a “buy” rating in a research note on Monday, November 27th. Bank of America upgraded BT Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded BT Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Jefferies Group cut their price target on BT Group from GBX 280 ($3.93) to GBX 265 ($3.72) and set a “hold” rating for the company in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $317.12.
The firm has a market capitalization of $35,166.80, a price-to-earnings ratio of 10.07 and a beta of 0.97. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.77 and a quick ratio of 0.75.
Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in BT Group by 22.8% during the second quarter. Royal Bank of Canada now owns 1,245,026 shares of the utilities provider’s stock worth $24,166,000 after acquiring an additional 230,781 shares during the period. Sit Investment Associates Inc. grew its holdings in BT Group by 2.3% during the third quarter. Sit Investment Associates Inc. now owns 737,900 shares of the utilities provider’s stock worth $14,197,000 after acquiring an additional 16,820 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in BT Group by 1,839.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,048,354 shares of the utilities provider’s stock worth $20,349,000 after acquiring an additional 994,311 shares during the period. Susquehanna International Group LLP grew its holdings in BT Group by 166.0% during the third quarter. Susquehanna International Group LLP now owns 153,200 shares of the utilities provider’s stock worth $2,948,000 after acquiring an additional 95,600 shares during the period. Finally, Sei Investments Co. grew its holdings in BT Group by 47.0% during the third quarter. Sei Investments Co. now owns 23,616 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 7,549 shares during the period. 0.92% of the stock is currently owned by hedge funds and other institutional investors.
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BT Group Company Profile
BT Group plc is a communications services company. The Company is engaged in selling fixed-voice services, broadband, mobile and television products and services, as well as managed networked information technology (IT) solutions and cyber security protection. Its segments include Consumer, which provides fixed-voice, broadband, TV and mobile services; EE, which is a mobile network operator in the United Kingdom and provides mobile and fixed communications services to consumers; Business and Public Sector, which provides communications and IT services to businesses and the public sector in the United Kingdom and the Republic of Ireland (RoI) ;Global Services, which provides managed networked IT services to corporate customers; Wholesale and Ventures, which provides fixed and mobile services to communications providers (CPs); and Openreach, which provides copper and fiber connections between its exchanges and homes and businesses.
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