Close Brothers Group (LON:CBG) Stock Price Down 21.6% – Should You Sell?

Shares of Close Brothers Group plc (LON:CBG) dropped 21.6% during trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares changed hands during mid-day 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

CBG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Close Brothers Group from GBX 610 ($7.93) to GBX 600 ($7.80) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Price Performance

The firm’s 50-day moving average is GBX 305.84 and its two-hundred day moving average is GBX 315.11. The company has a market cap of £407.99 million, a P/E ratio of 4.08, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. As a group, sell-side analysts expect 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.