Close Brothers Group (LON:CBG) Trading Down 22.2% – Time to Sell?

Close Brothers Group plc (LON:CBG)’s share price dropped 22.2% during mid-day trading on Tuesday . The stock traded as low as GBX 265.20 ($3.44) and last traded at GBX 268.80 ($3.49). Approximately 6,452,280 shares were traded during mid-day trading, an increase of 162% from the average daily volume of 2,459,257 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Ratings Changes

CBG has been the topic of several research analyst reports. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd. 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 on the stock in a research report on Thursday, February 13th.

Close Brothers Group Trading Down 21.8 %

The stock has a market capitalization of £406.79 million, a PE ratio of 4.07, a PEG ratio of 1.87 and a beta of 0.82. The firm’s 50-day simple moving average is GBX 304.94 and its two-hundred day simple moving average is GBX 316.91.

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