Shares of Barclays PLC (LON:BARC – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is GBX 578.33.
Several research analysts have recently issued reports on BARC shares. Jefferies Financial Group lifted their price target on Barclays from GBX 590 to GBX 600 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Berenberg Bank reissued a “buy” rating and issued a GBX 620 price objective on shares of Barclays in a research note on Thursday, September 3rd. Royal Bank Of Canada restated an “outperform” rating and set a GBX 550 target price on shares of Barclays in a report on Wednesday, August 12th. Citigroup upped their price target on shares of Barclays from GBX 505 to GBX 510 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 570 price objective on shares of Barclays in a research note on Wednesday, July 29th.
Get Our Latest Stock Report on BARC
Barclays Trading Down 3.5%
Barclays (LON:BARC – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share for the quarter. Barclays had a return on equity of 10.11% and a net margin of 25.61%. Sell-side analysts forecast that Barclays will post 39.1062802 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Julia Wilson acquired 2,033 shares of Barclays stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of GBX 497 per share, for a total transaction of £10,104.01. Also, insider Brian Shea acquired 2,393 shares of Barclays stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of GBX 497 per share, for a total transaction of £11,893.21. Insiders have acquired 27,498 shares of company stock worth $13,666,506 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.
Key Stories Impacting Barclays
Here are the key news stories impacting Barclays this week:
- Positive Sentiment: Barclays’ banking analyst Jason Goldberg said the third quarter could be among the sector’s strongest, reinforcing expectations for solid trading performance. The bank’s latest half-year results also showed stronger income, a higher dividend and plans for a new share buyback. Third quarter will be one of the best we’ve seen, say Barclays’ Jason Goldberg on banking sector
- Positive Sentiment: Barclays expects the Bank of England to raise rates in November and February as inflation risks intensify. Higher rates can support banks’ net interest income, although the benefit depends on deposit pricing and credit conditions. BoE Maintains 3.75% Rate as Barclays Anticipates Two Upcoming Increases
- Neutral Sentiment: Chief Executive C.S. Venkatakrishnan disclosed transactions involving Barclays American Depositary Shares. The filing concerns a transfer of holdings and does not, based on the available details, clearly indicate a change in management’s view of the company. Barclays CEO Venkatakrishnan Discloses Transfer of ADS Holdings
- Negative Sentiment: The immediate pressure appears largely market-driven: rising government bond yields, volatile oil prices and a weaker tone across London financial stocks are weighing on cyclical banks. An earlier move to a neutral-equivalent analyst rating may also be limiting near-term upside after Barclays’ strong run. Barclays Shares Slip as Risk-Off Mood and Earlier Downgrade Weigh on Sentiment
- Negative Sentiment: Thousands of Barclays employees are opposing tighter return-to-office requirements and seeking compensation for commuting costs. The dispute could create reputational, retention and operating-cost risks, although its direct financial impact is currently unclear. Barclays hit by staff backlash over return-to-office rules
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. 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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