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

Close Brothers Group plc (LON:CBG)’s share price 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 trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on CBG. Keefe, Bruyette & Woods cut their price target on Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating on the stock in a research note on Friday, October 10th. Shore Capital restated a “hold” rating and issued a GBX 510 price target on shares of Close Brothers Group in a research note on Friday, October 10th. UBS Group restated a “neutral” rating and issued a GBX 535 price target on shares of Close Brothers Group in a research note on Monday, September 15th. Peel Hunt restated a “hold” rating and issued a GBX 327 price target on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Royal Bank Of Canada cut their price target on Close Brothers Group from GBX 525 to GBX 500 and set a “sector perform” rating on the stock in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 494.

Close Brothers Group Stock Performance

The company has a market capitalization of £624.07 million, a PE ratio of -6.20, a P/E/G ratio of 1.87 and a beta of 0.82. The company’s 50-day simple moving average is GBX 466.64 and its 200-day simple moving average is GBX 416.71.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Tuesday, September 30th. The company reported GBX 59.30 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%. Analysts expect 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.