Barclays (LON:BARC) Shares Cross Above 200 Day Moving Average – Here’s Why

Barclays PLC (LON:BARC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 446.68 and traded as high as GBX 488.55. Barclays shares last traded at GBX 478.77, with a volume of 36,743,594 shares traded.

Wall Street Analyst Weigh In

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

Barclays Trading Up 1.3%

The firm has a market capitalization of £64.83 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90. The business has a 50-day moving average of GBX 439.63 and a 200 day moving average of GBX 446.68.

Barclays (LON:BARC) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 EPS for the quarter. The business had revenue of GBX 816.30 billion during the quarter. Barclays had a return on equity of 9.46% and a net margin of 17.81%. On average, sell-side analysts expect that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

About Barclays

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.