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

Key Points

• Close Brothers Group shares fell by 12.8% during mid-day trading, marking a significant drop from their previous close of GBX 524.
• Several analysts have downgraded their price objectives for Close Brothers Group, with Royal Bank of Canada reducing it from GBX 525 to GBX 500.
• The company reported GBX 59.30 EPS for the last quarter, with analysts anticipating an overall EPS of around 66.01 for the current fiscal year.

Close Brothers Group plc (LON:CBG - Get Free Report) shares dropped 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

CBG has been the subject of several recent research reports. Royal Bank Of Canada lowered their price objective on Close Brothers Group from GBX 525 to GBX 500 and set a "sector perform" rating for the company in a research report on Friday, October 3rd. Peel Hunt reiterated a "hold" rating and issued a GBX 327 price objective on shares of Close Brothers Group in a research report on Friday, July 25th. Panmure Gordon reiterated a "hold" rating and issued a GBX 500 price objective on shares of Close Brothers Group in a research report on Thursday. Shore Capital reiterated a "hold" rating on shares of Close Brothers Group in a research report on Tuesday, September 30th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 463 price objective on shares of Close Brothers Group in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Close Brothers Group presently 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 P/E/G ratio of 1.87 and a beta of 0.82. The business 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 announced its earnings results on Tuesday, September 30th. The company reported GBX 59.30 EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, sell-side analysts anticipate that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal 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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