Barclays PLC (BCS) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Barclays PLC (NYSE:BCS) from a hold rating to a buy rating in a research report released on Tuesday morning. The firm currently has $11.00 target price on the financial services provider’s stock.
According to Zacks, “Barclays' shares on NYSE have significantly underperformed the industry over the last six months. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Also, the company has been facing pressure on revenues owing to weak global economic recovery and uncertainty related to Brexit. However, the bank's restructuring and simplifying efforts ended successfully leading to the closure of the Non-Core division and continued decline in expenses. A strong balance sheet position is another positive for the company.”
Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG restated a buy rating on shares of Barclays PLC in a research report on Monday, August 14th. BidaskClub upgraded shares of Barclays PLC from a sell rating to a hold rating in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Barclays PLC from a hold rating to a buy rating in a research report on Tuesday, June 27th. BNP Paribas downgraded shares of Barclays PLC from an outperform rating to a neutral rating in a research report on Thursday, October 5th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a sell rating on shares of Barclays PLC in a research note on Friday, August 11th. Eight equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $10.24.
Barclays PLC (NYSE:BCS) traded down 0.346% during mid-day trading on Tuesday, reaching $10.075. 753,585 shares of the company traded hands. Barclays PLC has a 52 week low of $8.02 and a 52 week high of $12.05. The firm’s market capitalization is $42.93 billion. The stock’s 50 day moving average price is $10.04 and its 200 day moving average price is $10.56.
Barclays PLC (NYSE:BCS) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.22 billion. Barclays PLC had a positive return on equity of 2.57% and a negative net margin of 2.65%. Equities analysts forecast that Barclays PLC will post $0.86 EPS for the current year.
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The company also recently announced a None dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, August 11th were issued a $0.051 dividend. The ex-dividend date was Wednesday, August 9th. This represents a yield of 1.95%. Barclays PLC’s dividend payout ratio (DPR) is -88.23%.
In other news, major shareholder Plc Barclays sold 37 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $100,000.00, for a total transaction of $3,700,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in BCS. Park National Corp OH purchased a new position in shares of Barclays PLC during the 3rd quarter worth about $109,000. Fox Run Management L.L.C. purchased a new position in shares of Barclays PLC during the 2nd quarter worth about $110,000. Advisor Partners LLC purchased a new position in shares of Barclays PLC during the 2nd quarter worth about $119,000. HPM Partners LLC lifted its holdings in shares of Barclays PLC by 1.8% during the 2nd quarter. HPM Partners LLC now owns 11,545 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 203 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of Barclays PLC by 21.8% during the 2nd quarter. MAI Capital Management now owns 12,619 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,261 shares during the period. Institutional investors and hedge funds own 2.47% of the company’s stock.
Barclays PLC Company Profile
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