Barclays (NYSE:BCS) Cut to Buy at StockNews.com

StockNews.com cut shares of Barclays (NYSE:BCS) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Other analysts have also issued reports about the company. The Goldman Sachs Group initiated coverage on Barclays in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Kepler Capital Markets began coverage on shares of Barclays in a research note on Thursday, September 5th. They issued a “buy” rating on the stock.

Barclays Stock Performance

BCS opened at $13.55 on Wednesday. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $48.87 billion, a PE ratio of 9.23 and a beta of 1.41. The business has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $11.99. Barclays has a 1 year low of $7.07 and a 1 year high of $13.83.

Barclays (NYSE:BCS) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter. The company had revenue of $8.52 billion during the quarter. Barclays had a net margin of 17.83% and a return on equity of 6.30%. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Research analysts expect that Barclays will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BCS. Diversified Trust Co acquired a new stake in Barclays in the second quarter valued at approximately $559,000. Massachusetts Financial Services Co. MA acquired a new stake in Barclays in the 3rd quarter valued at $3,647,000. Dorsey Wright & Associates bought a new stake in Barclays during the 3rd quarter valued at $3,276,000. Raymond James & Associates increased its stake in Barclays by 11.9% during the 3rd quarter. Raymond James & Associates now owns 4,007,379 shares of the financial services provider’s stock valued at $48,690,000 after purchasing an additional 426,815 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Barclays during the second quarter worth $235,000. Institutional investors and hedge funds own 3.39% of the company’s stock.

About Barclays

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.