Close Brothers Group (LON:CBG) Stock Price Down 21.7% – Here’s What Happened

Shares of Close Brothers Group plc (LON:CBG) dropped 21.7% on Tuesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.40 ($3.51). Approximately 8,381,713 shares changed hands during trading, an increase of 236% from the average daily volume of 2,494,987 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Ratings Changes

A number of research firms have commented on CBG. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft decreased 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 research report on Thursday, February 13th.

Close Brothers Group Price Performance

The business’s fifty day moving average price is GBX 304.94 and its two-hundred day moving average price is GBX 316.91. The stock has a market capitalization 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.

Close Brothers Group (LON:CBG) 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, equities research analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal 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.