Close Brothers Group (LON:CBG) Stock Crosses Above 200 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Shares of Close Brothers Group plc (LON:CBG – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 439.49 and traded as high as GBX 480.80. Close Brothers Group shares last traded at GBX 480.80, with a volume of 323,677 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Shore Capital reaffirmed a “hold” rating and issued a GBX 510 price objective on shares of Close Brothers Group in a research report on Thursday, November 20th. Panmure Gordon restated a “hold” rating and issued a GBX 500 target price on shares of Close Brothers Group in a research note on Thursday, October 9th. Peel Hunt reaffirmed an “add” rating and set a GBX 300 price target on shares of Close Brothers Group in a research report on Tuesday, November 25th. UBS Group reiterated a “neutral” rating and set a GBX 535 price target on shares of Close Brothers Group in a report on Monday, September 15th. Finally, Royal Bank Of Canada reduced their price objective on Close Brothers Group from GBX 525 to GBX 500 and set a “sector perform” rating for the company in a research note on Friday, October 3rd. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 490.63.

Read Our Latest Stock Analysis on CBG

Close Brothers Group Price Performance

The company has a 50 day simple moving average of GBX 439.64 and a 200-day simple moving average of GBX 440.55. The stock has a market capitalization of £723.72 million, a P/E ratio of -7.19, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG – Get Free Report) last announced its quarterly earnings data on Thursday, December 11th. The company reported GBX 59.30 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 forecast that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal 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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