Barclays (LON:BARC) Hits New 12-Month High – Here’s Why

Barclays PLC (LON:BARC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 4,700 and last traded at GBX 472.10, with a volume of 952590563 shares trading hands. The stock had previously closed at GBX 484.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BARC. Jefferies Financial Group boosted their price objective on Barclays from GBX 455 to GBX 470 and gave the company a “buy” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 500 price objective on shares of Barclays in a report on Tuesday, December 2nd. Citigroup upped their target price on shares of Barclays from GBX 400 to GBX 415 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Shore Capital reaffirmed a “buy” rating on shares of Barclays in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of Barclays from GBX 435 to GBX 500 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 445.83.

Barclays Trading Down 2.5%

The company has a market capitalization of £65.44 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company’s 50 day moving average is GBX 441.81 and its 200-day moving average is GBX 393.81.

Barclays (LON:BARC) last posted its earnings results on Tuesday, December 16th. The financial services provider reported GBX 24.70 EPS for the quarter. Barclays had a net margin of 19.54% and a return on equity of 6.97%. Analysts predict that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

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.