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

Key Points

• Close Brothers Group's stock price decreased by 12.8% during trading, with shares dropping to as low as GBX 454.20 ($6.04).
• Analysts have a consensus rating of "Hold" on the stock, with target prices ranging from GBX 327 to GBX 535.
• The company reported a quarterly earnings per share of GBX 59.30 and is projected to post an EPS of 66.01 for the current fiscal year.

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price fell 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 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 research firms have recently commented on CBG. Peel Hunt restated a "hold" rating and set a GBX 327 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Panmure Gordon restated a "hold" rating and set a GBX 500 target price on shares of Close Brothers Group in a research report on Thursday. UBS Group restated a "neutral" rating and set a GBX 535 target price on shares of Close Brothers Group in a research report on Monday, September 15th. Shore Capital restated a "hold" rating on shares of Close Brothers Group in a research report on Tuesday, September 30th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 463 price target on shares of Close Brothers Group in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of GBX 465.63.

Close Brothers Group Stock Performance

The stock has a market capitalization 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. The stock's 50 day moving average is GBX 492.51 and its two-hundred day moving average is GBX 395.57.

Close Brothers Group (LON:CBG - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts expect 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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