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Barclays' (BARC) Buy Rating Reaffirmed at Shore Capital Group

Barclays logo with Financial Services background
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Key Points

  • Shore Capital reaffirmed a "Buy" on Barclays, joining other brokers that have raised targets (JPMorgan and Deutsche Bank to GBX 570); the consensus rating is a Moderate Buy with a consensus price target of GBX 495.
  • Barclays reported solid Q1 results — GBX 14.10 EPS, GBX 816.3bn revenue and ROTE ~13.5% — and launched a £500m buyback to boost capital returns, though it booked a one-off £228m credit loss related to MFS.
  • Shares traded at GBX 426.05 (down ~0.3%) on heavy volume; the bank has a market cap of ~£58.4bn, a P/E of ~10, and insiders made recent purchases, signalling management confidence.
  • MarketBeat previews the top five stocks to own by May 1st.

Barclays (LON:BARC - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Shore Capital Group in a research note issued to investors on Tuesday,London Stock Exchange reports.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Barclays from GBX 500 to GBX 570 and gave the company an "overweight" rating in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Barclays from GBX 480 to GBX 570 and gave the company a "buy" rating in a report on Friday, January 23rd. Finally, Citigroup lifted their price target on shares of Barclays from GBX 425 to GBX 450 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Barclays presently has an average rating of "Moderate Buy" and a consensus price target of GBX 495.

Read Our Latest Report on Barclays

Barclays Trading Down 0.3%

Shares of BARC traded down GBX 1.35 during trading hours on Tuesday, reaching GBX 426.05. 577,251,750 shares of the stock traded hands, compared to its average volume of 61,630,785. Barclays has a 52-week low of GBX 287.92 and a 52-week high of GBX 507.45. The company's 50-day moving average price is GBX 422.75 and its two-hundred day moving average price is GBX 435.82. The company has a market cap of £58.39 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86.

Barclays (LON:BARC - Get Free Report) last released its earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 earnings per share for the quarter. Barclays had a net margin of 17.82% and a return on equity of 9.41%. The company had revenue of GBX 816.30 billion for the quarter. On average, research analysts forecast that Barclays will post 39.1062802 EPS for the current year.

Insider Buying and Selling

In related news, insider Nigel Higgins purchased 6,769 shares of Barclays stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of GBX 481 per share, for a total transaction of £32,558.89. Also, insider Marc Moses bought 1,703 shares of Barclays stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of GBX 481 per share, for a total transaction of £8,191.43. Insiders purchased a total of 27,452 shares of company stock worth $13,204,412 in the last 90 days. 0.27% of the stock is owned by company insiders.

Barclays News Summary

Here are the key news stories impacting Barclays this week:

About Barclays

(Get Free Report)

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.

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Analyst Recommendations for Barclays (LON:BARC)

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