Close Brothers Group (LON:CBG) Trading Down 21.9% – Here’s What Happened

Shares of Close Brothers Group plc (LON:CBG) were down 21.9% on Tuesday . The company traded as low as GBX 268.20 ($3.49) and last traded at GBX 269.80 ($3.51). Approximately 6,129,683 shares were traded during trading, an increase of 150% from the average daily volume of 2,450,847 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

Several analysts recently issued reports on CBG shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Trading Up 5.2 %

The firm has a 50-day moving average price of GBX 307.19 and a 200-day moving average price of GBX 313.28. The company has a market capitalization of £429.39 million, a price-to-earnings ratio of 4.29, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its quarterly 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%. Equities research analysts predict that Close Brothers Group plc will post 66.0070671 EPS 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.