Close Brothers Group (LON:CBG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Close Brothers Group plc (LON:CBG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 416.71 and traded as high as GBX 424. Close Brothers Group shares last traded at GBX 419, with a volume of 340,283 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CBG shares. Shore Capital restated a “hold” rating and issued a GBX 510 price target on shares of Close Brothers Group in a research report on Friday, October 10th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 400 target price on shares of Close Brothers Group in a research report on Thursday, October 16th. Peel Hunt reiterated a “hold” rating and set a GBX 327 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Royal Bank Of Canada dropped their target price on Close Brothers Group from GBX 525 to GBX 500 and set a “sector perform” rating on the stock in a research report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods dropped their target price on Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of GBX 494.

Close Brothers Group Stock Down 1.1%

The company has a market cap of £624.07 million, a price-to-earnings ratio of -6.20, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The company has a fifty day simple moving average of GBX 466.64 and a two-hundred day simple moving average of GBX 416.71.

Close Brothers Group (LON:CBG) last posted its earnings results on Tuesday, September 30th. The company reported GBX 59.30 earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, research analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current 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.