Barclays (NYSE:BCS) Reaches New 12-Month High - Should You 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)'s share price reached 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. The stock had previously closed at $20.49.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BCS. Wall Street Zen downgraded shares of Barclays from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Morgan Stanley restated an "overweight" rating on shares of Barclays in a research report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Barclays in a report on Wednesday, July 16th. Finally, Citigroup cut shares of Barclays from a "buy" rating to a "neutral" rating in a report on Friday, July 18th. 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, Barclays presently has an average rating of "Moderate Buy".

Barclays Trading Up 1.4%

The company has a debt-to-equity ratio of 5.70, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $73.35 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.14. The business has a fifty day moving average of $19.56 and a 200-day moving average of $17.41.

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

Barclays Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its stake in Barclays by 187.0% in the 2nd quarter. Osaic Holdings Inc. now owns 188,078 shares of the financial services provider's stock worth $3,496,000 after purchasing an additional 122,557 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Barclays by 3.0% during the second quarter. Orion Porfolio Solutions LLC now owns 233,824 shares of the financial services provider's stock valued at $4,347,000 after buying an additional 6,819 shares in the last quarter. Neuberger Berman Group LLC raised its position in Barclays by 1.7% during the second quarter. Neuberger Berman Group LLC now owns 384,357 shares of the financial services provider's stock valued at $7,145,000 after buying an additional 6,415 shares during the period. State of Wyoming purchased a new stake in Barclays in the 2nd quarter worth about $118,000. Finally, Evergreen Capital Management LLC lifted its position in shares of Barclays by 3.3% in the second quarter. Evergreen Capital Management LLC now owns 24,518 shares of the financial services provider's stock worth $456,000 after purchasing an additional 781 shares in the last quarter. 3.39% of the stock is currently owned by institutional investors and hedge funds.

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.

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