Barclays (NYSE:BCS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, September 19th.
According to Zacks, “Barclays' shares on NYSE have significantly underperformed the industry over the past three months. Also, the company has surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The bank's restructuring and business simplifying efforts (including ring-fencing) are expected to continue to result in improved efficiency. Moreover, its efforts to lower costs are likely to support bottom-line growth. However, continuous pressure on revenue growth will likely hurt its profitability to some extent. Further, Brexit related ambiguity is expected to hurt its growth prospects in the near-term. Also, litigation matters remain a concern and will likely hamper its financial performance.”
A number of other equities research analysts also recently weighed in on BCS. Goldman Sachs Group restated a “neutral” rating on shares of Barclays in a research report on Wednesday, May 23rd. ValuEngine downgraded Barclays from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Bank of America restated a “neutral” rating on shares of Barclays in a research report on Tuesday, June 19th. UBS Group restated a “buy” rating on shares of Barclays in a research report on Wednesday, July 11th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Barclays in a research report on Tuesday, September 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.00.
Barclays (NYSE:BCS) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.14. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.01 billion. Barclays had a positive return on equity of 5.42% and a negative net margin of 0.36%. As a group, research analysts predict that Barclays will post 1.04 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new stake in shares of Barclays during the third quarter worth $178,000. Park National Corp OH acquired a new stake in shares of Barclays during the third quarter worth $100,000. Private Wealth Partners LLC acquired a new stake in shares of Barclays during the second quarter worth $201,000. Glenmede Trust Co. NA acquired a new stake in shares of Barclays during the second quarter worth $6,216,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Barclays by 220.9% during the second quarter. Cubist Systematic Strategies LLC now owns 56,704 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 39,035 shares during the period. 3.48% of the stock is owned by institutional investors and hedge funds.
Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, other European countries, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International divisions. It offers personal and business banking services; credit and debit cards; international banking; and private banking services, which include investment, wealth planning, and credit and specialist solutions to high net worth and ultra-high net worth clients, and family offices.
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