Barclays (BCS) Outpaces Stock Market Gains: What You Should Know
Barclays (BCS) closed the most recent trading day at $9.23, moving +1.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Prior to today's trading, shares of the financial holding company had gained 6.83% over the past month. This has outpaced the Finance sector's gain of 4.46% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Barclays as it approaches its next earnings report date. In that report, analysts expect Barclays to post earnings of $0.32 per share. This would mark a year-over-year decline of 11.11%. Our most recent consensus estimate is calling for quarterly revenue of $7.16 billion, up 2.91% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Barclays. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Barclays is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Barclays is holding a Forward P/E ratio of 5.38. This represents a discount compared to its industry's average Forward P/E of 8.04.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 8, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Barclays PLC (BCS) : Free Stock Analysis Report
