Close Brothers Group (LON:CBG) Shares Down 16.4% – What’s Next?

Close Brothers Group plc (LON:CBG)’s stock price dropped 16.4% during trading on Monday . The company traded as low as GBX 348.20 and last traded at GBX 348.20. Approximately 3,698,297 shares traded hands during trading, an increase of 261% from the average daily volume of 1,024,009 shares. The stock had previously closed at GBX 416.50.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Shore Capital Group reissued a “hold” rating and issued a GBX 510 price target on shares of Close Brothers Group in a report on Thursday, November 20th. Peel Hunt reaffirmed an “add” rating and set a GBX 300 price objective on shares of Close Brothers Group in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Close Brothers Group from GBX 550 to GBX 570 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada upgraded Close Brothers Group to an “outperform” rating and boosted their price target for the company from GBX 475 to GBX 625 in a report on Friday, January 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 502.50.

Close Brothers Group Trading Up 2.2%

The business’s 50 day moving average price is GBX 486.18 and its two-hundred day moving average price is GBX 472.17. The stock has a market cap of £530.82 million, a P/E ratio of -5.27, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Tuesday, March 17th. The company reported GBX 27.10 EPS for the quarter. Close Brothers Group had a negative net margin of 8.70% and a negative return on equity of 5.83%. As a group, analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan bought 2,841 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was purchased at an average price of GBX 507 per share, for a total transaction of £14,403.87. Insiders bought a total of 2,902 shares of company stock valued at $1,469,952 over the last three months. Corporate insiders own 2.19% of the company’s stock.

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.