Close Brothers Group (LON:CBG) Shares Down 20.3% – What’s Next?

Close Brothers Group plc (LON:CBG)’s share price was down 20.3% during mid-day trading on Tuesday . The company traded as low as GBX 272.80 ($3.54) and last traded at GBX 275.20 ($3.57). Approximately 3,477,808 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 2,404,174 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CBG shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd.

Close Brothers Group Price Performance

The firm’s 50-day moving average price is GBX 304.94 and its 200 day moving average price is GBX 316.91. The firm has a market capitalization of £421.70 million, a price-to-earnings ratio of 4.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

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.