Close Brothers Group (LON:CBG) Trading Down 12.8% - Here's What Happened

Key Points

• Close Brothers Group's shares fell by 12.8%, trading as low as GBX 454.20, following an increase in trading volume of 83% compared to its average session volume.
• Analysts provided mixed evaluations, with Canaccord Genuity maintaining a "buy" rating and UBS setting a target price of GBX 535, while Royal Bank of Canada lowered its target from GBX 525 to GBX 500.
• The company has a market capitalization of £687.89 million and reported earnings of GBX 59.30 per share for the quarter ending September 30th.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) traded down 12.8% during trading 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 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 Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 463 target price on shares of Close Brothers Group in a research note on Monday, August 4th. UBS Group reaffirmed a "neutral" rating and set a GBX 535 price target on shares of Close Brothers Group in a report on Monday, September 15th. Panmure Gordon reaffirmed 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 lowered their price target 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. Finally, Shore Capital reaffirmed a "hold" rating on shares of Close Brothers Group in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of GBX 465.63.

Close Brothers Group Stock Performance

The company has a market capitalization 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. The company's fifty day simple moving average is GBX 492.51 and its two-hundred day simple moving average is GBX 395.57.

Close Brothers Group (LON:CBG - Get Free Report) last announced its quarterly earnings data on Tuesday, September 30th. The company reported GBX 59.30 earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Sell-side 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.

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