Royal Bank Of Canada Issues Pessimistic Forecast for Close Brothers Group (LON:CBG) Stock Price

Key Points

• Royal Bank Of Canada has lowered its price target for Close Brothers Group from GBX 525 to GBX 500, indicating a potential upside of 2.29% from the current stock price.
• The stock currently holds an average rating of "Hold" and a consensus target price of GBX 460.71, with two analysts rating it as a Buy and five as Hold.
• Close Brothers Group's stock has experienced a 0.6% decline, with a recent trading range showing a twelve month high of GBX 563.50 and a low of GBX 179.83.

Close Brothers Group (LON:CBG - Get Free Report) had its price objective cut by investment analysts at Royal Bank Of Canada from GBX 525 to GBX 500 in a report released on Friday,Digital Look reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 2.29% from the stock's current price.

A number of other equities research analysts have also weighed in on CBG. 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. UBS Group restated a "neutral" rating and set a GBX 535 target price on shares of Close Brothers Group in a report on Monday, September 15th. Peel Hunt reiterated a "hold" rating and issued a GBX 327 price target on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Shore Capital reissued a "hold" rating on shares of Close Brothers Group in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Close Brothers Group has an average rating of "Hold" and a consensus target price of GBX 460.71.

Close Brothers Group Stock Down 0.6%

Close Brothers Group stock opened at GBX 488.80 on Friday. Close Brothers Group has a twelve month low of GBX 179.83 and a twelve month high of GBX 563.50. The firm has a fifty day simple moving average of GBX 484.85 and a two-hundred day simple moving average of GBX 388.28. The company has a market capitalization of £735.75 million, a PE ratio of -712.54, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last issued 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, equities analysts expect that Close Brothers Group will post 66.0070671 earnings per share for the current fiscal 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.