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

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

Analyst Ratings Changes

CBG has been the topic of a number of recent research reports. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on 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.

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 business has a fifty day moving average price of GBX 304.94 and a 200-day moving average price of GBX 316.91.

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 (EPS) for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, equities analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share 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.