Barclays (LON:BARC) Reaches New 1-Year Low After Analyst Downgrade

Barclays PLC (LON:BARC)’s share price hit a new 52-week low during mid-day trading on Wednesday after HSBC lowered their price target on the stock from GBX 220 to GBX 200. HSBC currently has a buy rating on the stock. Barclays traded as low as GBX 140.42 ($1.83) and last traded at GBX 140.46 ($1.84), with a volume of 2469365 shares traded. The stock had previously closed at GBX 141.10 ($1.84).

Several other brokerages also recently issued reports on BARC. Jefferies Financial Group reiterated a “buy” rating and set a GBX 280 ($3.66) price target on shares of Barclays in a report on Monday, July 22nd. Royal Bank of Canada set a GBX 180 ($2.35) price target on Barclays and gave the stock a “neutral” rating in a report on Friday, July 5th. Goldman Sachs Group decreased their price target on Barclays from GBX 200 ($2.61) to GBX 190 ($2.48) and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley reiterated an “equal weight” rating on shares of Barclays in a report on Friday, July 26th. Finally, UBS Group reiterated a “buy” rating and set a GBX 200 ($2.61) price target on shares of Barclays in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of GBX 208.71 ($2.73).

In other Barclays news, insider Nigel Higgins acquired 10,092 shares of Barclays stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of GBX 153 ($2.00) per share, for a total transaction of £15,440.76 ($20,176.09).

The stock has a market cap of $23.66 billion and a P/E ratio of 7.66. The business has a 50 day simple moving average of GBX 153.27 and a 200-day simple moving average of GBX 157.08.

The firm also recently disclosed a dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, August 8th will be paid a GBX 3 ($0.04) dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a yield of 1.95%. Barclays’s dividend payout ratio (DPR) is presently 0.39%.

Barclays Company Profile (LON:BARC)

Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, other European countries, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International divisions. It offers financial services, including retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.

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