Close Brothers Group (LON:CBG) Shares Down 12.8% – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price was down 12.8% on Thursday . The company traded as low as GBX 454.20 ($6.04) and last traded at GBX 457 ($6.08). Approximately 2,744,257 shares traded hands during trading, an increase of 83% from the average daily volume of 1,502,146 shares. The stock had previously closed at GBX 524 ($6.97).

Wall Street Analyst Weigh In

A number of analysts have weighed in on CBG shares. Panmure Gordon reissued a “hold” rating and set a GBX 500 target price on shares of Close Brothers Group in a research report on Thursday. Shore Capital reissued a “hold” rating on shares of Close Brothers Group in a research report on Tuesday, September 30th. Peel Hunt reissued a “hold” rating and set a GBX 327 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Royal Bank Of Canada decreased their target price on shares of Close Brothers Group from GBX 525 to GBX 500 and set a “sector perform” rating for the company in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a GBX 463 price target on shares of Close Brothers Group in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of GBX 465.63.

Close Brothers Group Stock Performance

The business has a fifty day moving average of GBX 492.51 and a 200-day moving average of GBX 395.57. The company has a market capitalization of £687.89 million, a P/E ratio of -683.11, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last issued its earnings results on Tuesday, September 30th. The company reported GBX 59.30 earnings per share (EPS) for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Sell-side analysts anticipate that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.