New York: BT Group plc (NYSE:BT) Rating Outlook Cut to Neutral by Analysts at BofA Merrill. Lost Its Buy Rating

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Banc of America Analyst Rating Change BT Group plc NYSE:BT

BT Group plc (NYSE:BT) Downgrade of Rating

In a note issued to investors and clients on Monday morning, stock analysts at BofA Merrill’s research division lowered BT Group plc (NYSE:BT)’s stock rating from Buy to Neutral.

The firm’s rating downgrade was most probably noticed by equity traders, as NYSE:BT is currently trading -1.32% lower at $18.66 as of 4:02 AM New York time. BT Group plc’s stock is 0% over the last 200 days. It has underperformed the S&P500, which has increased 6.00% over the same time period.

BT Stock Chart

BT Group plc (NYSE:BT) 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.

BT Group plc (NYSE:BT) traded down -1.32% on 19 June, hitting $18.66. A total of 845,448 shares of the company’s stock traded hands. This is up from average of 786,358 shares. BT Group plc has a 52 week low of $18.56 and a 52 week high of $32.85. The company has a market cap of $36.26 billion and a P/E ratio of 15.29.

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