Close Brothers Group (LON:CBG) Shares Down 12.8% - Time to Sell?

Key Points

• Close Brothers Group shares fell 12.8%, trading at GBX 457 ($6.08), significantly below the previous close of GBX 524 ($6.97).
• Analysts have mixed ratings on the stock, with two maintaining a buy rating and an average price target of GBX 465.63, suggesting a cautious outlook.
• The company reported a net margin of 7.79% and earnings per share of GBX 59.30 for the last quarter, with projected earnings for the current fiscal year expected to be 66.01.

Close Brothers Group plc (LON:CBG - Get Free Report) shares traded down 12.8% during mid-day trading 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 were traded 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).

Wall Street Analysts Forecast Growth

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

Close Brothers Group Stock Performance

The firm has a fifty day simple moving average of GBX 492.51 and a 200-day simple moving average of GBX 395.57. The firm has a market cap of £687.89 million, a price-to-earnings ratio of -683.11, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last posted 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 earnings per share for the current fiscal 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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