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

Key Points

• Close Brothers Group plc shares fell by 12.8% during trading, with a last traded price of GBX 457 ($6.08), significantly down from its previous close of GBX 524 ($6.97).
• Analyst evaluations show a mixed outlook, with two analysts rating it as a Buy, while six have given a Hold rating, resulting in an average price target of GBX 465.63.
• The company reported GBX 59.30 earnings per share for the last quarter, with an expectation of around 66.00 EPS for the current year.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) dropped 12.8% during trading on Friday . The company traded as low as GBX 454.20 ($6.04) and last traded at GBX 457 ($6.08). Approximately 2,744,257 shares changed 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).

Wall Street Analyst Weigh In

CBG has been the subject of a number of research reports. 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. 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 report on Friday, October 3rd. Shore Capital reaffirmed a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. UBS Group reaffirmed a "neutral" rating and issued a GBX 535 target price on shares of Close Brothers Group in a report on Monday, September 15th. Finally, Peel Hunt reaffirmed a "hold" rating and issued a GBX 327 target price on shares of Close Brothers Group in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of GBX 465.63.

Close Brothers Group Stock Down 1.4%

The stock has a market capitalization of £678.24 million, a PE ratio of -673.52, a PEG ratio of 1.87 and a beta of 0.82. The firm's fifty day moving average is GBX 492.51 and its 200-day moving average is GBX 395.57.

Close Brothers Group (LON:CBG - Get Free Report) last posted its quarterly 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.