Close Brothers Group (LON:CBG) Trading Down 20.3% – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price fell 20.3% on Tuesday . The stock traded as low as GBX 272.80 ($3.55) and last traded at GBX 275.20 ($3.58). 3,477,808 shares were traded during trading, an increase of 45% from the average session volume of 2,404,174 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

Several research firms have weighed in on CBG. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target 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 Stock Performance

The firm has a market capitalization of £429.39 million, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The business has a fifty day moving average of GBX 307.19 and a two-hundred day moving average of GBX 313.28.

Close Brothers Group (LON:CBG) last posted its 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, sell-side analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal 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.