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

by · The Cerbat Gem

Close Brothers Group plc (LON:CBG – Get Free Report)’s stock price was down 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). Approximately 7,777,821 shares were traded during trading, an increase of 213% from the average daily volume of 2,483,804 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CBG shares. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft cut their target price on Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Get Our Latest Stock Report on CBG

Close Brothers Group Stock Down 22.4 %

The firm’s 50-day moving average price is GBX 304.94 and its two-hundred day moving average price is GBX 316.91. The firm has a market capitalization of £403.77 million, a PE ratio of 4.04, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG – Get Free Report) last released its 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%. Equities research analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.

About Close Brothers Group

(Get Free Report)

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.

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