Barclays (LON:BARC) Issues Earnings Results

Barclays (LON:BARC) released its quarterly earnings results on Tuesday. The financial services provider reported GBX 24.70 EPS for the quarter, reports. Barclays had a return on equity of 9.41% and a net margin of 17.82%.The company had revenue of GBX 1,489.60 billion for the quarter.

Barclays Stock Performance

BARC traded down GBX 0.35 during trading on Thursday, hitting GBX 408.75. The stock had a trading volume of 80,186,523 shares, compared to its average volume of 56,031,684. The firm has a market capitalization of £56.31 billion, a P/E ratio of 9.66, a PEG ratio of 1.15 and a beta of 0.80. Barclays has a twelve month low of GBX 223.75 and a twelve month high of GBX 507.45. The company’s 50-day moving average price is GBX 441.30 and its 200 day moving average price is GBX 429.23.

Barclays News Summary

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays continues to win corporate business as Derwent London named Barclays a joint corporate broker, supporting fee income from broking/corporate-advisory services. Derwent London Appoints Barclays as Joint Corporate Broker
• Neutral Sentiment: Quarterly results released this week showed GBX 24.70 EPS and GBX 1,489.60bn of revenue; ROE 9.41% and a net margin of 17.82%. Numbers give a read on core profitability but market reaction suggests investors want clearer guidance or higher returns. Barclays Quarterly Results
• Neutral Sentiment: Barclays admitted an additional 3,493,319 ordinary shares to trading and updated total voting rights/share capital — routine corporate housekeeping but increases free float and should be noted by shareholders. Barclays Admits Additional Ordinary Shares to London Trading
• Negative Sentiment: Senior leadership churn: the head of Barclays Private Bank in Singapore is exiting, which could slow execution on regional growth plans and unsettle private banking investors. Barclays Private Bank Singapore Head to Exit
• Negative Sentiment: Macro/market risk commentary from Barclays economists flagging stress in the growing Treasury market (warning that bailouts may be needed) could raise investor concerns about market volatility and funding/liquidity risks across financials. Barclays Predicts Growing Treasury Market Will Need Bailouts

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BARC. Deutsche Bank Aktiengesellschaft raised their target price on shares of Barclays from GBX 480 to GBX 570 and gave the stock a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Barclays from GBX 500 to GBX 570 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Citigroup lowered their price objective on shares of Barclays from GBX 495 to GBX 450 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Barclays has an average rating of “Moderate Buy” and a consensus price target of GBX 495.

Insider Activity at Barclays

In other news, insider Brian Gilvary bought 2,794 shares of Barclays stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of GBX 481 per share, for a total transaction of £13,439.14. Also, insider Nigel Higgins bought 6,769 shares of the stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average cost of GBX 481 per share, for a total transaction of £32,558.89. Insiders have bought 27,452 shares of company stock worth $13,204,412 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.