Barclays Lowered to Sector Perform at RBC Capital (BCS)
Barclays (NYSE:BCS) was downgraded by equities researchers at RBC Capital from an “outperform” rating to a “sector perform” rating in a research report issued on Monday, American Banking & Market News reports. They currently have a $280.00 target price on the stock, down from their previous target price of $300.00.
Shares of Barclays (NYSE:BCS) opened at 17.54 on Monday. Barclays has a one year low of $15.32 and a one year high of $19.59. The stock has a 50-day moving average of $16.37 and a 200-day moving average of $17.02. The company has a market cap of $71.239 billion and a P/E ratio of 56.11. Barclays also was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 7,245,079 shares, a decline of 27.6% from the March 31st total of 10,002,229 shares. Based on an average trading volume of 3,111,297 shares, the short-interest ratio is currently 2.3 days. Currently, 0.0% of the company’s shares are sold short.
Barclays (NYSE:BCS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.48 by $0.11. On average, analysts predict that Barclays will post $1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 23rd. Investors of record on Friday, May 16th will be paid a dividend of $0.068 per share. This represents a $0.27 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, May 14th.
Several other analysts have also recently commented on the stock. Analysts at Nomura initiated coverage on shares of Barclays in a research note on Thursday. They set a “buy” rating on the stock. Separately, analysts at Societe Generale reiterated a “buy” rating on shares of Barclays in a research note on Wednesday, May 7th. Finally, analysts at Investec reiterated a “buy” rating on shares of Barclays in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $280.00.
Barclays PLC (NYSE:BCS) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services.
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