Close Brothers Group (LON:CBG) Shares Pass Above 200 Day Moving Average – What’s Next?

Close Brothers Group plc (LON:CBG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 431.10 and traded as high as GBX 455.60. Close Brothers Group shares last traded at GBX 449, with a volume of 243,120 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CBG shares. Panmure Gordon reissued a “hold” rating and set a GBX 500 price objective on shares of Close Brothers Group in a report on Thursday, October 9th. Shore Capital reaffirmed a “hold” rating and set a GBX 510 target price on shares of Close Brothers Group in a report on Thursday, November 20th. UBS Group reissued a “neutral” rating and issued a GBX 535 price target on shares of Close Brothers Group in a report on Monday, September 15th. Peel Hunt restated an “add” rating and issued a GBX 300 price objective on shares of Close Brothers Group in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Close Brothers Group from GBX 525 to GBX 500 and set a “sector perform” rating for the company in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 490.63.

Close Brothers Group Trading Up 1.5%

The firm has a fifty day simple moving average of GBX 444.01 and a two-hundred day simple moving average of GBX 431.10. The stock has a market cap of £675.86 million, a PE ratio of -6.71, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced its earnings results on Thursday, November 27th. The company reported GBX 30.90 earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Equities analysts forecast that Close Brothers Group plc will post 66.0070671 earnings per share 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.