Royal Bank Of Canada Upgrades Close Brothers Group plc (CBG) to Outperform
Close Brothers Group plc (LON:CBG) was upgraded by equities researchers at Royal Bank Of Canada to an “outperform” rating in a research note issued on Thursday. The firm presently has a GBX 1,600 ($21.11) price target on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 15.44% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Liberum Capital decreased their price target on Close Brothers Group plc from GBX 1,535 ($20.26) to GBX 1,464 ($19.32) and set a “hold” rating for the company in a research note on Friday, October 27th. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 1,800 ($23.75) price target on shares of Close Brothers Group plc in a research note on Tuesday, October 3rd. Jefferies Group LLC reissued a “hold” rating and set a GBX 1,543 ($20.36) price target (up from GBX 1,506 ($19.87)) on shares of Close Brothers Group plc in a research note on Thursday, September 28th. Barclays PLC decreased their price target on Close Brothers Group plc from GBX 1,550 ($20.45) to GBX 1,450 ($19.13) and set an “equal weight” rating for the company in a research note on Wednesday, September 27th. Finally, Shore Capital reissued a “hold” rating on shares of Close Brothers Group plc in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 1,551.33 ($20.47).
Shares of Close Brothers Group plc (CBG) traded down GBX 9.95 ($0.13) during mid-day trading on Thursday, hitting GBX 1,386.05 ($18.29). The company had a trading volume of 261,258 shares, compared to its average volume of 387,237. Close Brothers Group plc has a 52-week low of GBX 1,222 ($16.13) and a 52-week high of GBX 1,715 ($22.63).
Close Brothers Group plc (LON:CBG) last issued its quarterly earnings results on Tuesday, September 26th. The company reported GBX 131.70 ($1.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of GBX 130.10 ($1.72) by GBX 1.60 ($0.02). Close Brothers Group plc had a return on equity of 15.84% and a net margin of 22.76%. The firm had revenue of £765.60 million during the quarter.
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In other news, insider Jonathan Howell sold 17,363 shares of Close Brothers Group plc stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of GBX 1,468 ($19.37), for a total value of £254,888.84 ($336,353.71). Also, insider Rebekah Etherington sold 19,477 shares of Close Brothers Group plc stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of GBX 1,474 ($19.45), for a total value of £287,090.98 ($378,847.95). Over the last 90 days, insiders have acquired 30 shares of company stock worth $45,250 and have sold 37,619 shares worth $55,097,727.
Close Brothers Group plc Company Profile
Close Brothers Group plc is a merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three segments: Banking, Securities and Asset Management. The Banking segment provides lending to small businesses and individuals, with an emphasis on specialist finance.
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