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

Shares of Close Brothers Group plc (LON:CBGGet Free Report) were down 21.6% during mid-day trading on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares changed hands during mid-day trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd.

View Our Latest Stock Analysis on Close Brothers Group

Close Brothers Group Price Performance

The firm’s 50 day moving average is GBX 304.94 and its 200 day moving average is GBX 316.91. The firm has a market cap of £407.99 million, a P/E ratio of 4.08, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBGGet Free Report) last posted its quarterly 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 return on equity of 5.78% and a net margin of 7.79%. As a group, analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Close Brothers Group Company Profile

(Get Free Report)

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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