Barclays (LON:BARC) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Barclays PLC (LON:BARC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 464.22 and traded as high as GBX 491.05. Barclays shares last traded at GBX 483.95, with a volume of 19,189,996 shares changing hands.

Barclays News Summary

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Higher-rate outlook could support net interest income. Barclays expects the European Central Bank to raise rates by another 25 basis points in December as inflation and energy-price pressures persist. Higher rates can benefit banks’ lending margins, although they may also weaken loan demand and increase credit-risk concerns. Global Market: Barclays expects ECB to raise rates again in December as inflation risks persist
• Positive Sentiment: Barclays’ bullish equity-market view may reinforce confidence in its capital-markets franchise. The bank raised its year-end S&P 500 target to 7,950 and lifted its aggregate earnings-per-share forecast to $365, citing strong technology earnings and artificial-intelligence investment. A stronger equity market could support Barclays’ investment-banking, trading and wealth-management activity. Barclays Lifts S&P 500 Year-End Target to 7,950 as Overall EPS Estimates Jump to $365
• Neutral Sentiment: Senior-executive share dealings were disclosed. The filing concerns transactions by two executives and appears to be routine compliance reporting; no strategic change or financial impact was identified. Barclays Reports Share Dealings by Senior Executives
• Neutral Sentiment: Investor-relations activity remains active. Cboe Global Markets is scheduled to present at Barclays’ Global Financial Services Conference on September 16, but the event itself provides no direct update to Barclays’ earnings or strategy. Cboe Global Markets to Present at the Barclays Global Financial Services Conference
• Negative Sentiment: Reports of repeated failures in Barclays’ Beowulf internal risk platform raise operational and control concerns. Traders reportedly experienced outages during busy markets, potentially increasing execution, risk-management and reputational risks. Barclays traders flying blind as internal risk platform Beowulf keeps crashing during peak markets
• Negative Sentiment: Legal scrutiny over Barclays’ alleged role in a £90 million Ponzi scheme could weigh on sentiment. Potential litigation, regulatory action, penalties or reputational damage represent downside risks, although the reports do not establish final liability. Barclays faces legal scrutiny over role in £90m Ponzi scheme

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BARC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 570 target price on shares of Barclays in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of Barclays from GBX 600 to GBX 610 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 550 price objective on shares of Barclays in a research note on Wednesday, August 12th. Berenberg Bank reiterated a “buy” rating and set a GBX 620 price objective on shares of Barclays in a report on Thursday, September 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Barclays from GBX 590 to GBX 600 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 576.67.

Barclays Trading Up 1.5%

The business has a 50-day moving average of GBX 507.91 and a 200 day moving average of GBX 464.42. The firm has a market capitalization of £66.00 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.

Barclays (LON:BARC) last posted its earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 earnings per share (EPS) for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. On average, sell-side analysts expect that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

Insider Buying and Selling

In other Barclays news, insider Brian Gilvary acquired 3,640 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were acquired at an average price of GBX 497 per share, with a total value of £18,090.80. Also, insider Nigel Higgins acquired 7,604 shares of Barclays stock in a transaction on Tuesday, July 28th. The stock was acquired at an average price of GBX 497 per share, with a total value of £37,791.88. Insiders purchased a total of 27,498 shares of company stock valued at $13,666,506 over the last quarter. 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.