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

Shares of Close Brothers Group plc (LON:CBG) dropped 21.6% during mid-day 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 were traded 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).

Wall Street Analysts Forecast Growth

CBG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on 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 reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Stock Performance

The stock has a 50 day simple moving average of GBX 307.19 and a two-hundred day simple moving average of GBX 313.28. The firm has a market cap of £426.29 million, a PE ratio of 4.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its quarterly earnings data 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%. Equities research analysts forecast that Close Brothers Group plc will post 66.0070671 earnings per share for the current 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.