Barclays (NYSE:BCS) Sets New 52-Week High - Time to Buy?

Key Points

• Barclays' share price hit a new 52-week high at $20.69, marking an increase from its previous closing price of $20.49.
• Recent analyst ratings indicate mixed sentiments, with Wall Street Zen downgrading Barclays to a "hold" while Morgan Stanley and Royal Bank of Canada maintain "overweight" and "outperform" ratings respectively.
• The company reported a substantial earnings beat in its last quarterly results, with earnings per share of $0.62 surpassing expectations by $0.12, and revenues reaching $9.58 billion against a $7.06 billion forecast.

Barclays PLC (NYSE:BCS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.62 and last traded at $20.69, with a volume of 167648 shares changing hands. The stock had previously closed at $20.49.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BCS shares. Citigroup downgraded shares of Barclays from a "buy" rating to a "neutral" rating in a research report on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating on shares of Barclays in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of Barclays from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Barclays in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Barclays Trading Down 1.8%

The company has a market cap of $73.00 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.43 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 5.70. The firm's 50-day moving average price is $19.72 and its 200 day moving average price is $17.55.

Barclays (NYSE:BCS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $7.06 billion. Barclays had a net margin of 22.11% and a return on equity of 8.49%. As a group, equities analysts expect that Barclays PLC will post 2 EPS for the current year.

Barclays Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be issued a $0.1557 dividend. This represents a dividend yield of 210.0%. The ex-dividend date is Friday, August 8th. Barclays's dividend payout ratio (DPR) is currently 14.29%.

Hedge Funds Weigh In On Barclays

A number of large investors have recently modified their holdings of BCS. Fisher Asset Management LLC lifted its holdings in shares of Barclays by 13.2% in the 2nd quarter. Fisher Asset Management LLC now owns 83,062,892 shares of the financial services provider's stock worth $1,544,139,000 after purchasing an additional 9,692,999 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Barclays by 37.6% in the 1st quarter. Acadian Asset Management LLC now owns 33,607,068 shares of the financial services provider's stock worth $516,163,000 after purchasing an additional 9,188,263 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Barclays by 78.7% in the 1st quarter. Natixis Advisors LLC now owns 8,892,766 shares of the financial services provider's stock worth $136,593,000 after purchasing an additional 3,917,785 shares in the last quarter. Norges Bank bought a new position in shares of Barclays in the 2nd quarter worth $63,206,000. Finally, 1832 Asset Management L.P. bought a new position in Barclays during the 2nd quarter valued at $57,568,000. 3.39% of the stock is currently owned by institutional investors.

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.