Close Brothers Group (LON:CBG) Trading Down 21.6% – Time to Sell?

Close Brothers Group plc (LON:CBG) shares traded down 21.6% during trading on Tuesday . The company traded as low as GBX 269 ($3.50) and last traded at GBX 270.72 ($3.52). 5,216,042 shares changed hands during trading, an increase of 114% from the average session volume of 2,436,364 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBG. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target 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 research note on Thursday, February 13th.

Close Brothers Group Stock Performance

The company’s 50 day moving average price is GBX 307.19 and its 200-day moving average price is GBX 313.28. The company has a market cap of £429.39 million, a price-to-earnings ratio of 4.29, a PEG ratio of 1.87 and a beta of 0.82.

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, sell-side analysts forecast that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

About Close Brothers Group

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.