Close Brothers Group (LON:CBG) Shares Down 12.8% - Here's What Happened

Key Points

• Close Brothers Group shares dropped 12.8% in one day, closing at GBX 457 ($6.08) after reaching a low of GBX 454.20 ($6.04).
• The company's stock has received mixed ratings from analysts, with two rating it as a "Buy" and six as a "Hold," and a consensus target price of GBX 465.63.
• Close Brothers Group reported GBX 59.30 earnings per share for the latest quarter and has a market capitalization of £687.89 million.

Close Brothers Group plc (LON:CBG - Get Free Report)'s share price dropped 12.8% on Thursday . The company traded as low as GBX 454.20 ($6.04) and last traded at GBX 457 ($6.08). Approximately 2,744,257 shares traded hands during trading, an increase of 83% from the average daily volume of 1,502,146 shares. The stock had previously closed at GBX 524 ($6.97).

Analyst Ratings Changes

CBG has been the topic of several analyst reports. UBS Group reissued a "neutral" rating and set a GBX 535 target price on shares of Close Brothers Group in a research report on Monday, September 15th. Shore Capital reissued a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 463 price objective on shares of Close Brothers Group in a research note on Monday, August 4th. Royal Bank Of Canada decreased their target price on Close Brothers Group from GBX 525 to GBX 500 and set a "sector perform" rating for the company in a research report on Friday, October 3rd. Finally, Panmure Gordon reissued a "hold" rating and issued a GBX 500 price target on shares of Close Brothers Group in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Close Brothers Group presently has a consensus rating of "Hold" and an average price target of GBX 465.63.

Close Brothers Group Stock Down 12.8%

The firm has a 50-day moving average price of GBX 492.51 and a two-hundred day moving average price of GBX 395.57. The company has a market capitalization of £687.89 million, a P/E ratio of -683.11, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last announced its 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%. On average, analysts predict that Close Brothers Group plc will post 66.0070671 EPS 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.

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