Barclays PLC (NYSE:BCS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, May 10th.
According to Zacks, “Barclays' shares have significantly underperformed the Zacks categorized Foreign Banks industry over the last six months. The company’s first quarter 2017 net income more than doubled, driven by impressive underwriting performance and substantial drop in losses in Non-Core division. The company’s efforts to restructure and simplify its operations continue to lower its costs. Also, the bank is on track to wind down its Non-Core division by mid-2017. However, the company has been facing pressure on revenues owing to weak global economic recovery and uncertainty related to Brexit. Moreover, stringent regulatory landscape will continue to weigh on the company’s near-term performance.”
A number of other equities analysts have also weighed in on the company. Goldman Sachs Group Inc lowered Barclays PLC from a “neutral” rating to a “sell” rating in a research note on Friday, May 5th. Natixis lowered Barclays PLC from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods lowered Barclays PLC from a “market perform” rating to an “underperform” rating in a research note on Friday, April 21st. Macquarie lowered Barclays PLC from a “neutral” rating to an “underperform” rating in a research note on Friday, April 21st. Finally, Morgan Stanley raised Barclays PLC from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $11.36 to $11.50 in a research note on Friday, March 17th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Barclays PLC has an average rating of “Hold” and an average target price of $31.07.
Barclays PLC (NYSE:BCS) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.83 billion. Barclays PLC had a positive return on equity of 3.60% and a negative net margin of 4.94%.
Several large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in Barclays PLC by 447.5% in the first quarter. Quadrant Capital Group LLC now owns 10,425 shares of the financial services provider’s stock valued at $109,000 after buying an additional 8,521 shares in the last quarter. Atlas Brown Inc. purchased a new stake in Barclays PLC during the first quarter valued at about $112,000. Rand Wealth LLC purchased a new stake in Barclays PLC during the first quarter valued at about $115,000. Two Sigma Securities LLC purchased a new stake in Barclays PLC during the third quarter valued at about $117,000. Finally, Wsfs Capital Management LLC purchased a new stake in Barclays PLC during the fourth quarter valued at about $120,000. Hedge funds and other institutional investors own 2.57% of the company’s stock.
Barclays PLC Company Profile
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