Close Brothers Group (LON:CBG) Stock Price Down 21.6% – Here’s What Happened

Close Brothers Group plc (LON:CBG) shares were down 21.6% during mid-day trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares changed hands during trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CBG shares. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on Close Brothers Group from GBX 610 ($7.93) to GBX 600 ($7.80) and set a “hold” rating on the stock in a report on Thursday, February 13th.

Close Brothers Group Trading Down 21.6 %

The firm has a market capitalization of £407.99 million, a P/E ratio of 4.08, a P/E/G ratio of 1.87 and a beta of 0.82. The firm has a 50-day moving average of GBX 304.94 and a two-hundred day moving average of GBX 316.91.

Close Brothers Group (LON:CBG) last announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that Close Brothers Group plc will post 66.0070671 EPS 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.