Barclays (BCS) Upgraded to “Hold” by Zacks Investment Research

Barclays (NYSE:BCS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Barclays' shares on NYSE have underperformed the industry over the past six months. Also, the company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. It has been facing pressure on revenues owing to weak capital market performance, low interest rates and uncertainty related to Brexit. Further, the U.S. tax act will result in a one-time charge of $1.3 billion in the fourth quarter, thereby hurting the bank's profitability in 2017. However, the bank's restructuring and business simplifying efforts have ended successfully and will likely continue to result in decrease in expenses. Also, driven by these efforts, the company is expected to enhance capital deployment activities as profitability improves going forward.”

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods upgraded Barclays from an “underperform” rating to a “market perform” rating in a research report on Tuesday, October 31st. Berenberg Bank upgraded Barclays from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Macquarie upgraded Barclays from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 29th. UBS Group reiterated a “buy” rating on shares of Barclays in a research report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Barclays in a research report on Monday, November 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $11.25.

Barclays (BCS) traded up $0.60 during mid-day trading on Monday, hitting $11.74. The stock had a trading volume of 5,467,585 shares, compared to its average volume of 2,630,000. Barclays has a 52-week low of $9.29 and a 52-week high of $11.96. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $50,070.00, a PE ratio of 18.63, a P/E/G ratio of 0.58 and a beta of 0.95.

Barclays (NYSE:BCS) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.06). Barclays had a positive return on equity of 3.08% and a negative net margin of 1.86%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.36 billion. analysts expect that Barclays will post 0.81 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in Barclays by 0.4% during the second quarter. State Street Corp now owns 27,113 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 100 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Barclays by 1.0% during the second quarter. Nationwide Fund Advisors now owns 305,296 shares of the financial services provider’s stock valued at $3,233,000 after purchasing an additional 2,896 shares during the period. Sterling Capital Management LLC grew its holdings in Barclays by 21.1% during the second quarter. Sterling Capital Management LLC now owns 19,694 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 3,437 shares during the period. Morningstar Investment Services LLC grew its holdings in Barclays by 15.5% during the third quarter. Morningstar Investment Services LLC now owns 59,890 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 8,036 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in Barclays by 52.8% during the third quarter. Ausdal Financial Partners Inc. now owns 23,346 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 8,070 shares during the period. Institutional investors own 2.47% of the company’s stock.

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About Barclays

Barclays PLC, is a global financial services holding company. The Company is engaged in credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company’s segments include Barclays UK and Barclays International. The Barclays UK segment includes the local consumer, small business, the United Kingdom wealth and credit cards business.

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