BT Group (lon:bt.a)
Is BT's Price Too Dependent On Football

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Title: Is BT's Price Too Dependent On Football
Company: BT.A - BT Group
Share Price Then: 290p
Author: Ian Smith
Date: Tue 11 Jul 2017
Comments: The BT share price has been on a gradual decline since the start of 2016 where it peaked at 500p and it seemed that 350p may have been a natural level after a bubble inspired by selling Broadband on the back of Premier League football.

This possible adjustment was scuppered in Jan 2017 when there were some accounting issues in Italy, although the actual costs of the mis-accounting were significant at £530m, this was about 3 months profits so was hardly business threatening.

This scandal seems to have encouraged a neagtive view and the gradual decline has returned with the share price currently at around the pre 2008 crash level.

So If prices at around 300p reflects BTs value as a telecoms provider rather than telecoms provider plus hype related football is it due to fall further before people realise that is is over sold?

The dividend for 206/2017 was 15p which is 5% at the current share price and no talk of cancelling dividends.

Net debt is £9bn which is roughtly 4 years profits which doesn't seem too much
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