NEW YORK - Barclays (LON:BARC) PLC (NYSE:BCS) experienced a slight decline in pre-market trading today to $6.67, following a period of mixed performance in the stock market. Despite a recommendation to "Buy" from analysts with an average price target of $7.30, the bank's shares have not been faring as bullishly as some of its peers.
Over the last month, Barclays has traded less bullishly than 57% of market stocks, reflected by a short-term technical score of 43. Specifically, from October 17 to today, the stock fell by 9.45%, closing at $7.59 with fluctuations between $6.24 and $7.65. This places Barclays in the middle range of its industry, Banks - Diversified (38/146), where it outperforms 36% of stocks.
The company's overall score stands at 47, and its long-term technical rank is 40, which means it ranks lower than 60% of market stocks over the past 200 trading days. In terms of earnings, Barclays is expected to release its next earnings report on January 22, 2024, with an earnings per share (EPS) of $0.31 reported over the last 12 months.
Today's trading volume for Barclays reached 8.51 million shares at a price of $6.71 per share, with a beta value of 1.42 indicating moderate volatility relative to the overall market. The stock is currently situated -40.69% off its 52-week high and has seen a rise of 7.15% from its low over the same period.
Analysts have mixed views on Barclays' stock, considering it an Overweight with a recommendation rating of 1.94 out of five, including ten Buy ratings and five Hold ratings. They have set a consensus price target for the stock at $10.10, suggesting a potential increase of 33.56%. The projected low price target is $6.58 while the high target is $14.86.
Despite this optimism, Barclays' year-to-date movement shows a decrease of -13.97%, with a five-day decrease of -0.59% and a thirty-day decrease of -9.45%. The company's value stands at $25.26 billion, with significant holdings by institutional investors such as Dimensional Fund Advisors LP and Arrowstreet Capital, Limited Partnership.
Looking ahead, Barclays' earnings growth for 2023 is estimated at 1.07%, but over the next five years, earnings are expected to decrease by -0.60%. The industry growth rate stands at 6.30%, while Barclays' year growth rate is reported at 0.00%. The company also offers a forward dividend yield of 6.18%, which has increased over the past year.
Investors will be watching closely for Barclays' upcoming earnings report in December to gauge the bank's financial health and future outlook amidst ongoing market challenges and opportunities within the global financial sector.
InvestingPro Insights
Barclays PLC is a prominent player in the Banks industry, trading at a low Price / Book multiple and a low P/E ratio relative to near-term earnings growth, according to InvestingPro Tips. The company has raised its dividend for 3 consecutive years, signaling a commitment to shareholder returns. However, it is worth noting that 2 analysts have revised their earnings downwards for the upcoming period.
In terms of real-time data from InvestingPro, Barclays has a market cap of 25.83B USD and a P/E ratio of 3.95 as of Q3 2023. The company's Price / Book ratio for the last twelve months as of Q3 2023 stands at 0.3, which is relatively low. Barclays' revenue growth for Q3 2023 was 0.55%, and its operating income margin stood at 33.33% for the same period.
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