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

Key Points

• Close Brothers Group shares experienced a significant decline of 12.8% during mid-day trading, dropping from a previous close of GBX 524 to a low of GBX 454.20.
• Several analysts have issued ratings for the stock, with a consensus rating of “Hold” and a price target averaging GBX 465.63, reflecting mixed market sentiment.
• The company reported earnings of GBX 59.30 per share for the last quarter, with a return on equity of 5.78% and a net margin of 7.79%.

Close Brothers Group plc (LON:CBG - Get Free Report) shares were down 12.8% during mid-day 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 were traded 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 equities research analysts recently issued reports on the company. 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. Shore Capital restated a "hold" rating on shares of Close Brothers Group in a research note on Tuesday, September 30th. Royal Bank Of Canada reduced their price objective on 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. Canaccord Genuity Group restated a "buy" rating and set a GBX 463 price target on shares of Close Brothers Group in a research report on Monday, August 4th. Finally, UBS Group restated a "neutral" rating and set a GBX 535 price target on shares of Close Brothers Group in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of GBX 465.63.

Close Brothers Group Stock Down 12.8%

The company has a market cap of £687.89 million, a P/E ratio of -683.11, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The company has a fifty day moving average of GBX 492.51 and a 200 day moving average of GBX 395.57.

Close Brothers Group (LON:CBG - Get Free Report) last released its earnings results on Tuesday, September 30th. The company reported GBX 59.30 earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. As a group, research analysts forecast 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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