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

Key Points

• Close Brothers Group's stock price fell by 12.8% during trading, closing at GBX 457 ($6.08) after reaching a low of GBX 454.20 ($6.04).
• Analysts have mixed ratings on the stock, with a consensus target price of GBX 465.63, and the majority holding a "Hold" rating.
• The company reported earnings of GBX 59.30 per share last quarter and has a market capitalization of £687.89 million.

Close Brothers Group plc (LON:CBG - Get Free Report)'s share price traded down 12.8% on Thursday . The company 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).

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group restated a "neutral" rating and issued a GBX 535 target price on shares of Close Brothers Group in a report on Monday, September 15th. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 463 price target on shares of Close Brothers Group in a report on Monday, August 4th. Panmure Gordon reiterated a "hold" rating and set a GBX 500 price target on shares of Close Brothers Group in a report on Thursday. Royal Bank Of Canada cut 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 report on Friday, October 3rd. Finally, Peel Hunt reiterated a "hold" rating and set a GBX 327 price target on shares of Close Brothers Group in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of GBX 465.63.

Close Brothers Group Trading Down 12.8%

The company has a market capitalization of £687.89 million, a PE ratio of -683.11, a PEG ratio of 1.87 and a beta of 0.82. The firm's 50-day simple moving average is GBX 492.51 and its 200-day simple moving average is GBX 395.57.

Close Brothers Group (LON:CBG - Get Free Report) last released its quarterly earnings data 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%. As a group, analysts anticipate 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.