Barclays (LON:BARC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Barclays PLC (LON:BARC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 292.29 ($3.94) and traded as high as GBX 325.15 ($4.38). Barclays shares last traded at GBX 322.82 ($4.35), with a volume of 15,886,499 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup upped their price objective on Barclays from GBX 320 ($4.31) to GBX 350 ($4.71) and gave the stock a “buy” rating in a research report on Thursday, March 6th. Shore Capital reaffirmed a “buy” rating on shares of Barclays in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Barclays from GBX 370 ($4.98) to GBX 410 ($5.52) and gave the stock a “top pick” rating in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 350 ($4.71) target price on shares of Barclays in a research report on Monday, February 24th.

Barclays Stock Down 0.7%

The stock has a market capitalization of £46.35 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.15 and a beta of 1.36. The stock has a 50 day simple moving average of GBX 309.40 and a two-hundred day simple moving average of GBX 292.29.

Barclays (LON:BARC) last released its earnings results on Wednesday, April 30th. The financial services provider reported GBX 13 ($0.18) earnings per share for the quarter. Barclays had a net margin of 19.54% and a return on equity of 6.97%. Sell-side analysts predict that Barclays PLC will post 39.1062802 earnings per share for the current fiscal year.

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.