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

Key Points

• Close Brothers Group shares fell by 12.8% during trading on Thursday, with the stock dropping to GBX 457 ($6.08) from GBX 524 ($6.97) at the previous close.
• Several analysts have given mixed ratings, with a consensus target price of GBX 465.63, indicating a "Hold" rating among most analysts.
• The company's recent earnings report revealed an earnings per share (EPS) of GBX 59.30 for the quarter, with predictions set at approximately 66 EPS for the current fiscal year.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) were down 12.8% during trading on Thursday . 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).

Analyst Upgrades and Downgrades

Several analysts have recently commented on CBG shares. Panmure Gordon reiterated a "hold" rating and issued a GBX 500 price target on shares of Close Brothers Group in a research report on Thursday. Royal Bank Of Canada lowered their price target on shares of Close Brothers Group from GBX 525 to GBX 500 and set a "sector perform" rating on the stock in a research report on Friday, October 3rd. UBS Group reiterated a "neutral" rating and issued a GBX 535 price target on shares of Close Brothers Group in a research report on Monday, September 15th. Peel Hunt reiterated a "hold" rating and issued a GBX 327 price target on shares of Close Brothers Group in a research report on Friday, July 25th. Finally, Shore Capital reiterated a "hold" rating on shares of Close Brothers Group in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of GBX 465.63.

Close Brothers Group Price Performance

The stock's 50-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 price-to-earnings ratio of -683.11, a price-to-earnings-growth 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%. Analysts predict that Close Brothers Group plc will post 66.0070671 EPS 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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