Close Brothers Group (LON:CBG) Stock Price Down 21.9% – Should You Sell?

Shares of Close Brothers Group plc (LON:CBG) dropped 21.9% during mid-day trading on Tuesday . The company traded as low as GBX 268.20 ($3.48) and last traded at GBX 269.80 ($3.50). Approximately 6,129,683 shares changed hands during mid-day 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).

Wall Street Analysts Forecast Growth

CBG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced 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 note on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research note on Monday, March 3rd.

Close Brothers Group Price Performance

The business’s 50-day moving average price is GBX 304.94 and its two-hundred day moving average price is GBX 316.91. The company has a market capitalization of £406.49 million, a P/E ratio of 4.07, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced 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 net margin of 7.79% and a return on equity of 5.78%. Research analysts expect 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.