Close Brothers Group (CBG) Posts Earnings Results, Beats Estimates By $2.70 EPS

Close Brothers Group (LON:CBG) issued its earnings results on Tuesday, March 13th. The company reported GBX 71.20 ($1.00) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of GBX 68.50 ($0.96) by GBX 2.70 ($0.04), Bloomberg Earnings reports. The company had revenue of £405.50 million for the quarter. Close Brothers Group had a net margin of 22.76% and a return on equity of 15.84%.

Shares of LON:CBG opened at GBX 1,447 ($20.31) on Friday. Close Brothers Group has a 12-month low of GBX 1,315 ($18.46) and a 12-month high of GBX 1,715 ($24.07).

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The firm also recently announced a dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, March 22nd will be given a dividend of GBX 21 ($0.29) per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a dividend yield of 1.4%.

A number of brokerages have recently issued reports on CBG. Shore Capital reaffirmed a “hold” rating on shares of Close Brothers Group in a report on Thursday, January 25th. JPMorgan Chase reaffirmed an “overweight” rating and issued a GBX 1,800 ($25.27) target price on shares of Close Brothers Group in a report on Wednesday, March 14th. Liberum Capital reissued a “hold” rating and issued a GBX 1,464 ($20.55) price target on shares of Close Brothers Group in a report on Friday, March 9th. Peel Hunt reissued a “buy” rating and issued a GBX 1,600 ($22.46) price target on shares of Close Brothers Group in a report on Thursday, January 25th. Finally, Numis Securities reissued a “hold” rating and issued a GBX 1,575 ($22.11) price target on shares of Close Brothers Group in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of GBX 1,554.50 ($21.82).

In other Close Brothers Group news, insider Elizabeth Lee sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of GBX 1,523 ($21.38), for a total value of £106,610 ($149,649.07). In the last 90 days, insiders acquired 30 shares of company stock worth $45,090.

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Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals firms in the United Kingdom. It operates through five segments: Commercial Finance, Retail Finance, Property Finance, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

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