BT Group Gains Bearish Analyst Coverage as YTD Dip Continues

BT Group's shares (LON: BT.A) on the London Stock Exchange, has seen a shift in analyst sentiment with the latest coverage initiated by Oddo BHF. The financial institution began its coverage with an Underperform rating and set a price target of 118 GBp for the company.

This assessment comes as BT Group's shares dipped 0.32% on the day, to fall 3.74% in the red on a year-to-date basis.

The telecommunications giant holds a market cap of £14 billion, a notable figure for the communication services sector it operates within.

From a financial perspective, BT Group underscores a trailing price-to-earnings (P/E) ratio of 18.3, coupled with a more prospective forward P/E ratio of 7.61.

The firm has significant insider holdings, with 43.58% of its stocks held by company insiders and an additional 27.457% by institutional investors.

Established in 1846 and headquartered in London, United Kingdom, BT Group operates through several segments such as Consumer, Business, and Openreach. This extensive enterprise provides a range of communication services covering fixed networks, mobile networks, broadband, and television to individual and household consumers, as well as an array of services to small, medium, and large businesses, and public sector entities.

Despite the bearish coverage today, the consensus from analysts largely points to upside potential. BT's shares have also gained 23.16% over the past 12 months, reminded those who focus on the day to day movement to zoom out a little.