Close Brothers Group (LON:CBG) Trading Down 21.6% – Here’s Why

Shares of Close Brothers Group plc (LON:CBG) dropped 21.6% during trading on Tuesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). Approximately 7,777,821 shares traded hands during mid-day trading, an increase of 213% from the average daily volume of 2,483,804 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Ratings Changes

A number of research analysts have recently weighed in on CBG shares. Deutsche Bank Aktiengesellschaft cut their price target 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 report on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd.

Close Brothers Group Stock Down 22.4 %

The stock’s 50-day moving average price is GBX 304.94 and its 200 day moving average price is GBX 316.91. The company has a market cap of £403.77 million, a P/E ratio of 4.04, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its 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%. Analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share 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.