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

Close Brothers Group plc (LON:CBG) fell 21.6% during trading on Wednesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 125,087,578 shares changed hands during mid-day trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.48).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating for the company in a research note on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Stock Performance

The firm has a 50 day moving average price of GBX 308.27 and a 200-day moving average price of GBX 313.01. The company has a market cap of £417.94 million, a P/E ratio of 4.18, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) 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%. On average, sell-side analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Activity at Close Brothers Group

In other Close Brothers Group news, insider Michael N. Biggs purchased 5,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). 2.91% of the stock is currently owned by company insiders.

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.