Close Brothers Group (LON:CBG) Trading Down 21.6% – What’s Next?

Close Brothers Group plc (LON:CBGGet Free Report)’s share price was down 21.6% on Tuesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares traded hands during trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CBG shares. Deutsche Bank Aktiengesellschaft lowered their price target on Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd.

Check Out Our Latest Research Report on CBG

Close Brothers Group Stock Down 21.6 %

The stock has a market capitalization of £407.99 million, a P/E ratio of 4.08, a P/E/G ratio of 1.87 and a beta of 0.82. The stock’s 50 day moving average price is GBX 304.94 and its 200-day moving average price is GBX 316.91.

Close Brothers Group (LON:CBGGet Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Close Brothers Group Company Profile

(Get Free Report)

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.

Further Reading

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