Close Brothers Group (LON:CBG) Price Target Lowered to GBX 580 at Keefe, Bruyette & Woods

Key Points

• Close Brothers Group's price target has been lowered from GBX 640 to GBX 580 by Keefe, Bruyette & Woods while still retaining an "outperform" rating, indicating a potential upside of 32.36% based on current prices.
• The stock's average rating is currently a "Hold," with two analysts recommending a buy and six recommending to hold, suggesting mixed sentiments about its performance.
• As of the latest trading session, Close Brothers Group's stock price fell to GBX 438.20, significantly below its twelve-month high of GBX 563.50.

Close Brothers Group (LON:CBG - Get Free Report) had its price objective reduced by equities research analysts at Keefe, Bruyette & Woods from GBX 640 to GBX 580 in a report issued on Friday,Digital Look reports. The firm presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 32.36% from the company's current price.

CBG has been the topic of several other reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 463 target price on shares of Close Brothers Group in a research report on Monday, August 4th. Royal Bank Of Canada lowered their price objective on shares of Close Brothers Group from GBX 525 to GBX 500 and set a "sector perform" rating on the stock in a research note on Friday, October 3rd. Panmure Gordon reiterated a "hold" rating and set a GBX 500 target price on shares of Close Brothers Group in a research note on Thursday. UBS Group reissued a "neutral" rating and issued a GBX 535 price target on shares of Close Brothers Group in a report on Monday, September 15th. Finally, Shore Capital restated a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of GBX 501.88.

Close Brothers Group Price Performance

LON CBG traded down GBX 18.80 on Friday, hitting GBX 438.20. 1,231,178 shares of the company were exchanged, compared to its average volume of 1,500,655. Close Brothers Group has a twelve month low of GBX 179.83 and a twelve month high of GBX 563.50. The company's 50 day moving average price is GBX 492.51 and its 200-day moving average price is GBX 395.57. The firm has a market capitalization of £659.60 million, a P/E ratio of -655.01, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The company reported GBX 59.30 earnings per share (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. As a group, equities analysts expect that Close Brothers Group will post 66.0070671 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.