Close Brothers Group (LON:CBG) Stock Price Down 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price fell 21.6% during trading on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). 125,087,578 shares were traded during mid-day trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CBG. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd.

Close Brothers Group Stock Down 21.6 %

The firm has a market cap of £407.99 million, a PE ratio of 4.08, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a 50 day moving average price of GBX 304.94 and a two-hundred day moving average price of GBX 316.91.

Close Brothers Group (LON:CBG) last released its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. As a group, equities analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share 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.