Close Brothers Group (LON:CBG) Stock Price Down 22.2% – Here’s What Happened

Close Brothers Group plc (LON:CBG) shares traded down 22.2% during mid-day trading on Tuesday . The stock traded as low as GBX 265.20 ($3.45) and last traded at GBX 268.80 ($3.50). 6,452,280 shares were traded during trading, an increase of 162% from the average session volume of 2,459,257 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CBG shares. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a research report on Thursday, February 13th.

Close Brothers Group Stock Performance

The stock has a market capitalization of £426.18 million, a P/E ratio of 4.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average price of GBX 307.19 and a two-hundred day moving average price of GBX 313.28.

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 (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Equities analysts anticipate 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.