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

Key Points

• Close Brothers Group's stock price dropped 12.8%, closing at GBX 457 ($6.08) during mid-day trading, significantly lower than its previous closing of GBX 524 ($6.97).
• Analysts have mixed ratings for the stock, with two buy ratings and six hold ratings, while the average target price is set at GBX 465.63.
• Recently, Close Brothers Group reported GBX 59.30 earnings per share and has a market capitalization of £687.89 million, indicating ongoing financial activity despite the stock decline.

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).

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Shore Capital reissued a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 463 price target on shares of Close Brothers Group in a report on Monday, August 4th. Royal Bank Of Canada lowered their price target on 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. UBS Group reissued a "neutral" rating and issued a GBX 535 price target on shares of Close Brothers Group in a report on Monday, September 15th. Finally, Panmure Gordon reissued a "hold" rating and issued a GBX 500 price target on shares of Close Brothers Group in a report on Thursday. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of GBX 465.63.

Close Brothers Group Stock Down 12.8%

The stock has a 50-day moving average of GBX 492.51 and a 200 day moving average of GBX 395.57. The stock has a market cap of £687.89 million, a PE 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 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 return on equity of 5.78% and a net margin of 7.79%. On average, equities 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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