Close Brothers Group (LON:CBG) Shares Down 12.8% - Should You Sell?

Key Points

• Close Brothers Group plc shares fell 12.8%, closing at GBX 457 ($6.08) after trading as low as GBX 454.20 ($6.04), with a substantial increase in trading volume.
• Equity analysts have varied ratings for the stock, with target prices ranging from GBX 327 to GBX 535, resulting in an average "Hold" rating and a target of GBX 465.63.
• The company's last quarterly earnings report indicated earnings per share of GBX 59.30, with a net margin of 7.79% and a return on equity of 5.78%.

Close Brothers Group plc (LON:CBG - Get Free Report) shares dropped 12.8% during trading on Friday . The stock 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 mid-day 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).

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Close Brothers Group from GBX 525 to GBX 500 and set a "sector perform" rating for the company in a report on Friday, October 3rd. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 463 target price on shares of Close Brothers Group in a report on Monday, August 4th. Peel Hunt reiterated a "hold" rating and set a GBX 327 target price on shares of Close Brothers Group in a report on Friday, July 25th. Panmure Gordon reiterated a "hold" rating and set a GBX 500 target price on shares of Close Brothers Group in a report on Thursday. Finally, UBS Group reissued a "neutral" rating and set a GBX 535 price target on shares of Close Brothers Group in a research report on Monday, September 15th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Close Brothers Group currently has an average rating of "Hold" and an average price target of GBX 465.63.

Close Brothers Group Price Performance

The company has a market cap of £678.24 million, a P/E ratio of -673.52, a P/E/G ratio of 1.87 and a beta of 0.82. The company's 50-day moving average is GBX 492.51 and its two-hundred day moving average is GBX 395.57.

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

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