Barclays (NYSE:BCS) Hits New 1-Year High – Here’s Why

Barclays PLC (NYSE:BCS)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $21.17 and last traded at $21.10, with a volume of 444402 shares. The stock had previously closed at $20.93.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating on shares of Barclays in a report on Tuesday, September 2nd. Citigroup cut Barclays from a “buy” rating to a “neutral” rating in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Barclays in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Barclays from a “hold” rating to a “buy” rating in a report on Saturday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Barclays has a consensus rating of “Moderate Buy”.

Barclays Stock Performance

The firm’s 50 day simple moving average is $19.95 and its 200-day simple moving average is $17.72. The company has a debt-to-equity ratio of 5.70, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.43 and a beta of 1.14.

Barclays (NYSE:BCS) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. Barclays had a net margin of 22.11% and a return on equity of 8.49%. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $7.06 billion. Analysts expect that Barclays PLC will post 2 EPS for the current year.

Barclays Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th were paid a dividend of $0.1557 per share. This represents a yield of 210.0%. The ex-dividend date of this dividend was Friday, August 8th. Barclays’s payout ratio is 14.75%.

Hedge Funds Weigh In On Barclays

A number of hedge funds have recently modified their holdings of BCS. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Barclays in the second quarter worth $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Barclays in the second quarter worth $28,000. Financial Management Professionals Inc. bought a new stake in Barclays in the first quarter worth $29,000. Elequin Capital LP bought a new stake in Barclays in the first quarter worth $30,000. Finally, Wealthquest Corp bought a new stake in Barclays in the first quarter worth $32,000. 3.39% of the stock is owned by institutional investors and hedge funds.

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.