Barclays (LON:BARC) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Barclays PLC (LON:BARC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 442.14 and traded as high as GBX 460.30. Barclays shares last traded at GBX 456.63, with a volume of 120,316,102 shares changing hands.

Barclays News Summary

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays reiterated a pro-shareholder stance by continuing its share buyback and cancelling repurchased shares, which reduces the share count and can support earnings per share over time. Barclays tightens share base with continued buy-back and cancellations
• Positive Sentiment: Several Barclays research calls in recent days have been constructive on other names, including upgrades and target increases for stocks such as SanDisk, Micron, and Occidental, reinforcing a generally active and influential stance from the bank’s analyst team. MU, SNDK: Barclays Goes Big on Micron and SanDisk Stocks — Boosts Ratings and Price Targets
• Neutral Sentiment: Market commentary from Barclays suggested investors are still favoring U.S. equities amid geopolitical uncertainty, but this was a broad macro view rather than a direct catalyst for Barclays PLC shares. The market isn’t fully pricing in a peace deal yet, as investors see no alternative to U.S. stocks, says Barclays

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BARC shares. Citigroup increased their price target on Barclays from GBX 425 to GBX 450 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Shore Capital Group restated a “buy” rating on shares of Barclays in a research report on Tuesday, April 28th. Jefferies Financial Group increased their price target on Barclays from GBX 570 to GBX 590 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada upgraded Barclays to an “outperform” rating and increased their price target for the stock from GBX 550 to GBX 575 in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 527.50.

Barclays Stock Performance

The stock has a 50-day moving average of GBX 421.41 and a 200 day moving average of GBX 442.14. The firm has a market capitalization of £62.26 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90.

Barclays (LON:BARC) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported GBX 14.10 earnings per share (EPS) for the quarter. Barclays had a return on equity of 9.46% and a net margin of 17.81%.The firm had revenue of GBX 816.30 billion for the quarter. On average, equities analysts predict that Barclays PLC will post 39.1062802 EPS for the current year.

Barclays Company Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.