Barclays PLC (BCS) Downgraded to Hold at Zacks Investment Research
Barclays PLC (NYSE:BCS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Barclays' shares on NYSE have significantly underperformed the industry over the last six months. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. The bank’s third quarter 2017 results reflected lower operating costs and a rise in advisory fees, partially offset by decline in net interest income as well as muted investment banking performance. It’s restructuring and business simplifying efforts ended successfully and continue to result in decrease in expenses. A strong balance sheet position is another positive for the company. However, the company has been facing pressure on revenues owing to weak capital market performance, low interest rates and uncertainty related to Brexit. Also, litigation matters remain a near-term concern.”
BCS has been the topic of several other reports. BidaskClub lowered shares of Barclays PLC from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Berenberg Bank raised shares of Barclays PLC from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Barclays PLC in a report on Friday, August 11th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Barclays PLC in a report on Monday, August 14th. Finally, BNP Paribas lowered shares of Barclays PLC from an “outperform” rating to a “neutral” rating in a report on Thursday, October 5th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.24.
Barclays PLC (NYSE BCS) traded up 1.812% during trading on Tuesday, hitting $9.835. The stock had a trading volume of 1,941,367 shares. Barclays PLC has a 52-week low of $8.87 and a 52-week high of $12.05. The firm’s market cap is $41.93 billion. The company’s 50 day moving average is $10.12 and its 200 day moving average is $10.47.
Barclays PLC (NYSE:BCS) last posted its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Barclays PLC had a negative net margin of 2.65% and a positive return on equity of 2.57%. The business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.22 billion. Equities research analysts forecast that Barclays PLC will post $0.86 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. acquired a new position in shares of Barclays PLC during the 3rd quarter worth about $3,950,000. Well Done LLC acquired a new position in shares of Barclays PLC during the 3rd quarter worth about $130,000. Adviser Investments LLC acquired a new position in shares of Barclays PLC during the 3rd quarter worth about $286,000. BB&T Corp raised its position in shares of Barclays PLC by 10.3% during the 3rd quarter. BB&T Corp now owns 109,596 shares of the financial services provider’s stock worth $1,135,000 after purchasing an additional 10,245 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Barclays PLC by 7.6% during the 3rd quarter. Fisher Asset Management LLC now owns 20,654,732 shares of the financial services provider’s stock worth $213,776,000 after purchasing an additional 1,467,037 shares during the last quarter. Hedge funds and other institutional investors own 2.50% of the company’s stock.
Barclays PLC Company Profile
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