Barclays full-year results: where next for the share price?

The UK lender will unveil its full-year results on Thursday, with the bank hoping to reveal an annual profit boost now that the PPI deadline has finally passed.

Barclays will unveil its full-year results on Thursday, with the lender hoping to reveal an annual profit boost now that the payment protection insurance (PPI) claim window has closed.

Analysts expect that the bank will report pre-tax profit of around £6 billion, up from £5.7 billion over the same period a year ago, representing 5.2% increase.

The deadline for claims in relation to mis-sold PPI passed in August last year, with charges related to those claims putting a major dent in British lenders earnings.

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Barclays hopes to hit full-year targets

When Barclays releases its full-year results on Thursday, investors will be hoping the lender will meet its 2019 guidance targets, though it will be a challenge considering the myriad of global macroeconomic headwinds it faces and the low interest rate environment applying added pressure on margins.

The lender continues to target a 9% return on tangible equity (RoTE) in 2019, with that figure rising to 10% in 2020. However, the lender conceded that the challenging banking environment is making it difficult to achieve these targets, particularly with respect to 2020.

Barclays full-year cost guidance remains unchanged however, with its management expecting to reduce 2019 costs below £13.6 billion. The bank also expects to reach its revised CET1 target of circa. 13.5% at year end.

UBS upgrades outlook for Barclays share price

Analysts at UBS reiterated their ‘buy’ rating for Barclays in February and upgraded their price target for the stock to 195p.

Based on Barclays closing at 176p on Monday, analysts at UBS believe the stock has a potential upside of 10.8%.

You can go long or short Barclays with IG using derivatives like CFDs and spread bets.


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