Royal Bank Of Canada Cuts Close Brothers Group (LON:CBG) Price Target to GBX 500

Close Brothers Group (LON:CBG) had its target price trimmed by Royal Bank Of Canada from GBX 525 to GBX 500 in a research note released on Friday morning, Marketbeat Ratings reports. The firm currently has a sector perform rating on the stock.

Other analysts also recently issued research reports about the stock. Peel Hunt reiterated a “hold” rating and issued a GBX 327 price objective on shares of Close Brothers Group in a report on Friday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 463 price objective on shares of Close Brothers Group in a report on Monday, August 4th. Shore Capital reiterated a “hold” rating on shares of Close Brothers Group in a report on Tuesday, September 30th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 535 price objective on shares of Close Brothers Group in a report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Close Brothers Group currently has a consensus rating of “Hold” and an average price target of GBX 460.71.

Close Brothers Group Stock Down 0.0%

CBG opened at GBX 491.40 on Friday. Close Brothers Group has a twelve month low of GBX 179.83 and a twelve month high of GBX 563.50. The company has a 50-day moving average price of GBX 486.05 and a 200 day moving average price of GBX 391.34. The company has a market cap of £739.67 million, a PE ratio of -734.53, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its quarterly earnings results on Tuesday, September 30th. The company reported GBX 59.30 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, sell-side analysts expect that Close Brothers Group 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.