Close Brothers Group (LON:CBG) Trading Down 22.2% – Here’s Why

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a research note on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Price Performance

The business has a 50-day simple moving average of GBX 307.19 and a two-hundred day simple moving average of GBX 313.28. The stock has a market cap of £429.39 million, a price-to-earnings ratio of 4.29, a P/E/G ratio of 1.87 and a beta of 0.82.

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, equities analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal 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.