What's Going On With Barclays Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Barclays PLC reported Q3 total income growth of 5% Y/Y to £6.26 billion, but EPS declined to 8.3p from 9.4p Y/Y. Barclays UK income fell by 2% Y/Y, while Barclays International grew by 9% Y/Y. Operating expenses increased, and attributable profit declined 16% Y/Y. The company paid a half-year dividend of 2.7p per share and completed a £750 million share buyback. For 2023, Barclays reiterated a loan loss rate of 50-60bps and a return on tangible equity above 10%. The company's shares are down by 5.70% in premarket trading.
October 24, 2023 | 12:40 pm
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Barclays reported mixed Q3 results with income growth but declines in EPS and profit. The company reiterated its 2023 targets and completed a share buyback, but shares are down in premarket trading.
Barclays' mixed Q3 results, with income growth but declines in EPS and profit, are likely contributing to the premarket decline in the company's shares. The reiteration of 2023 targets and completion of a share buyback may provide some support, but the overall impact is negative in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100