Barclays (NYSE:BCS) Sets New 12-Month High - Time to Buy?

Key Points

• Barclays shares reached a new 52-week high of $28.59, rising 2.4% from the previous close; the stock’s 50-day and 200-day moving averages were $26.06 and $24.69, respectively.
• Analyst sentiment remains favorable but mixed, with five Buy ratings and four Holds producing a consensus “Moderate Buy” rating. Recent actions included upgrades from Piper Sandler and a downgrade from BNP Paribas Exane.
• Barclays slightly exceeded quarterly earnings expectations, reporting $0.76 EPS versus the $0.75 consensus, while analysts forecast full-year EPS of $2.86. Institutional ownership remains limited at 3.39%.

Barclays PLC (NYSE:BCS) hit a new 52-week high on Monday . The company traded as high as $28.59 and last traded at $28.59, with a volume of 199818 shares changing hands. The stock had previously closed at $27.91.

Wall Street Analysts Forecast Growth

BCS has been the topic of several recent research reports. BNP Paribas Exane cut Barclays from an "outperform" rating to a "neutral" rating in a research report on Tuesday, April 14th. Morgan Stanley reissued an "overweight" rating on shares of Barclays in a research note on Thursday, July 2nd. Citigroup restated a "neutral" rating on shares of Barclays in a research report on Thursday, July 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Barclays in a report on Friday, July 17th. Finally, Piper Sandler raised shares of Barclays from an "overweight" rating to a "buy" rating in a research report on Friday, June 12th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Barclays Stock Up 2.4%

The company has a debt-to-equity ratio of 5.94, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a fifty day moving average price of $26.06 and a 200 day moving average price of $24.69. The firm has a market capitalization of $97.42 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.47 and a beta of 1.00.

Barclays (NYSE:BCS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.01. Barclays had a net margin of 21.10% and a return on equity of 8.12%. The business had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $10.88 billion. As a group, sell-side analysts expect that Barclays PLC will post 2.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Barclays

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Retirement Investments LLC purchased a new position in Barclays in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Barclays in the fourth quarter valued at $26,000. SHP Wealth Management purchased a new position in shares of Barclays in the fourth quarter valued at $28,000. Advocate Investing Services LLC purchased a new stake in shares of Barclays in the 4th quarter worth about $33,000. Finally, First Pacific Financial increased its holdings in Barclays by 3,036.4% during the 1st quarter. First Pacific Financial now owns 1,725 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 1,670 shares in the last quarter. 3.39% of the stock is currently owned by institutional investors and hedge funds.

About Barclays

Barclays PLC NYSE: BCS is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.

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