Close Brothers Group (LON:CBG) Stock Price Down 21.6% – What’s Next?

Shares of Close Brothers Group plc (LON:CBG) fell 21.6% on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). 125,087,578 shares changed hands during trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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 £412.81 million, a price-to-earnings ratio of 4.13, a PEG ratio of 1.87 and a beta of 0.82. The company has a fifty day simple moving average of GBX 307.19 and a two-hundred day simple moving average of GBX 313.28.

Close Brothers Group (LON:CBG) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Transactions at Close Brothers Group

In other news, insider Michael N. Biggs bought 5,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of GBX 288 ($3.75) per share, with a total value of £14,400 ($18,732.93). Company insiders own 2.91% 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.