Close Brothers Group (LON:CBG) Stock Price Down 22.2% – What’s Next?

Close Brothers Group plc (LON:CBG) traded down 22.2% on Tuesday . The company traded as low as GBX 265.20 ($3.45) and last traded at GBX 268.80 ($3.50). 6,452,280 shares traded hands during mid-day trading, an increase of 162% from the average session volume of 2,459,257 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

CBG has been the topic of several research analyst reports. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Close Brothers Group Price Performance

The firm has a market capitalization of £429.39 million, a P/E ratio of 4.29, a P/E/G ratio of 1.87 and a beta of 0.82. The stock’s 50 day moving average is GBX 307.19 and its two-hundred day moving average is GBX 313.28.

Close Brothers Group (LON:CBG) last posted 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 return on equity of 5.78% and a net margin of 7.79%. As a group, equities research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current year.

About Close Brothers Group

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.