Barclays PLC (BCS) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Barclays PLC (NYSE:BCS) from a buy rating to a hold rating in a research report report published on Tuesday morning.

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.”

A number of other analysts have also recently issued reports on BCS. Morgan Stanley reissued a buy rating on shares of Barclays PLC in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of Barclays PLC in a research note on Friday, August 11th. Deutsche Bank AG reissued a buy rating on shares of Barclays PLC in a research note on Monday, August 14th. BidaskClub cut Barclays PLC from a hold rating to a sell rating in a research note on Monday, August 14th. Finally, ValuEngine cut Barclays PLC from a buy rating to a hold rating in a research note on Friday, September 1st. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Barclays PLC presently has an average rating of Hold and an average target price of $10.24.

Barclays PLC (NYSE BCS) opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.21 and a quick ratio of 1.19. Barclays PLC has a 12-month low of $8.94 and a 12-month high of $12.05. The stock has a market capitalization of $41.16 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 0.64 and a beta of 0.92.

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Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Barclays PLC by 50.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 304,051 shares of the financial services provider’s stock valued at $3,220,000 after buying an additional 102,230 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Barclays PLC by 0.8% in the second quarter. Brandes Investment Partners LP now owns 5,602,988 shares of the financial services provider’s stock valued at $59,336,000 after buying an additional 43,360 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Barclays PLC by 13.6% in the second quarter. Fisher Asset Management LLC now owns 19,187,695 shares of the financial services provider’s stock valued at $203,198,000 after buying an additional 2,300,492 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Barclays PLC by 14.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,904,900 shares of the financial services provider’s stock valued at $62,533,000 after buying an additional 724,794 shares in the last quarter. Finally, Bellecapital International Ltd. grew its stake in shares of Barclays PLC by 10.2% in the second quarter. Bellecapital International Ltd. now owns 22,347 shares of the financial services provider’s stock valued at $237,000 after buying an additional 2,072 shares in the last quarter. 2.50% of the stock is owned by institutional investors and hedge funds.

Barclays PLC Company Profile

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