Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price dropped 20.3% during mid-day trading on Tuesday . The company traded as low as GBX 272.80 ($3.52) and last traded at GBX 275.20 ($3.55). Approximately 3,477,808 shares traded hands during trading, an increase of 45% from the average daily volume of 2,404,174 shares. The stock had previously closed at GBX 345.40 ($4.46).
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Close Brothers Group from GBX 610 ($7.88) to GBX 600 ($7.75) and set a "hold" rating for the company in a research note on Thursday, February 13th. Shore Capital reaffirmed a "buy" rating on shares of Close Brothers Group in a research note on Tuesday.
Get Our Latest Report on Close Brothers Group
Close Brothers Group Stock Performance
The stock has a market cap of £427.45 million, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock's 50-day simple moving average is GBX 309.75 and its two-hundred day simple moving average is GBX 312.81.
Close Brothers Group (LON:CBG - Get Free Report) last released its 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 net margin of 7.79% and a return on equity of 5.78%. As a group, research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Michael N. Biggs acquired 5,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.72) per share, for a total transaction of £14,400 ($18,592.64). Company insiders own 2.91% of the company's stock.
Close Brothers Group Company Profile
(
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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.
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