HSBC Thinks BT Group’s Stock is Going to Recover

By Austin Angelo

HSBC analyst Stephen Howard reiterated a Buy rating on BT Group (NYSE: BT) on November 29. The company’s shares closed yesterday at $22.53, close to its 52-week low of $21.61.

BT Group has an analyst consensus of Hold.

Based on BT Group’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $7.94 billion and quarterly net profit of $743 million. In comparison, last year the company earned revenue of $6.74 billion and had a net profit of $807 million.

BT Group Plc provides communication solutions and services. Its principal activities include fixed-lines services, broadband, mobile and TV products and services as well as networked IT services. The company has six customer-facing lines of business: BT Global Services, BT Business, BT Consumer, EE, BT Wholesale and Openreach. The BT Global Services provides networked IT services to multinational corporations, domestic businesses, government departments and other communication service providers around the world. The BT Business provides a range of innovative communications products and services and serves consumer customers, small and medium sized enterprises in the United Kingdom. The BT Consumer provides consumer fixed voice and broadband in the U.K. with a growing base of TV and BT sport customers. The EE is 4G mobile network delivers mobile and fixed communications services to consumers, businesses, government and the wholesale market. The BT Wholesale provides broadband, voice, data connectivity, managed network outsourcing and value-added solutions to the UK communication providers. The Openreach owns, maintains and develops access network that links homes and businesses to the networks of Britain’s communication providers. BT Group was founded on March 30, 2001 and is headquartered in London, the United Kingdom.