Close Brothers Group (LON:CBG) Shares Down 22.2% – Time to Sell?

Close Brothers Group plc (LON:CBG) fell 22.2% on Tuesday . The stock traded as low as GBX 265.20 ($3.44) and last traded at GBX 268.80 ($3.49). 6,452,280 shares changed hands during trading, an increase of 162% from the average session volume of 2,459,257 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

Several research firms recently weighed in on CBG. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a report on Thursday, February 13th.

Close Brothers Group Trading Down 22.2 %

The company has a 50-day moving average price of GBX 304.94 and a two-hundred day moving average price of GBX 316.91. The stock has a market capitalization of £404.98 million, a P/E ratio of 4.05, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last issued its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Research 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.