Close Brothers Group (LON:CBG) Shares Down 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG) shares fell 21.6% during trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). 7,777,821 shares were traded during trading, an increase of 213% from the average session volume of 2,483,804 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

Several research firms have commented on CBG. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a report on Thursday, February 13th.

Close Brothers Group Stock Performance

The firm’s fifty day simple moving average is GBX 307.19 and its 200 day simple moving average is GBX 313.28. The firm has a market cap of £428.78 million, a P/E ratio of 4.29, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) 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%. On average, equities research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current 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.