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

Key Points

• Close Brothers Group's stock price dropped by 12.8% on Thursday, closing at GBX 457 ($6.08), with trading volume increasing significantly to about 2.74 million shares.
• Several analysts currently have a consensus rating of "Hold" for Close Brothers Group, with target prices ranging from GBX 327 to GBX 500.
• The company's latest earnings report indicated an EPS of GBX 59.30, along with a return on equity of 5.78% and a net margin of 7.79%.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Shore Capital reiterated a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. 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 for the company in a research note on Friday, October 3rd. Canaccord Genuity Group restated a "buy" rating and set a GBX 463 price objective on shares of Close Brothers Group in a research note on Monday, August 4th. Peel Hunt reissued a "hold" rating and set a GBX 327 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Finally, UBS Group reiterated a "neutral" rating and issued a GBX 535 price target on shares of Close Brothers Group in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Close Brothers Group has an average rating of "Hold" and a consensus price target of GBX 465.63.

Close Brothers Group Price Performance

The company's fifty day moving average is GBX 492.51 and its 200-day moving average is GBX 395.57. The stock has a market cap of £687.89 million, a PE 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 issued 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%. Analysts expect that Close Brothers Group plc 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.

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