Close Brothers Group (LON:CBG) Shares Down 21.7% – Time to Sell?

Close Brothers Group plc (LON:CBG) shares traded down 21.7% during mid-day trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.40 ($3.52). 8,381,713 shares changed hands during trading, an increase of 236% from the average session volume of 2,494,987 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

CBG has been the topic of a number of recent analyst reports. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Close Brothers Group Stock Performance

The stock has a market capitalization of £426.29 million, a P/E ratio of 4.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average price of GBX 307.19 and a two-hundred day moving average price of GBX 313.28.

Close Brothers Group (LON:CBG) last released its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Equities analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal 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.