Close Brothers Group (LON:CBG) was downgraded by stock analysts at Berenberg Bank to a “hold” rating in a research note issued on Monday. They currently have a GBX 1,530 ($21.14) price target on the stock, up from their previous price target of GBX 1,515 ($20.93). Berenberg Bank’s price target indicates a potential upside of 3.59% from the company’s current price.
Several other brokerages have also recently issued reports on CBG. Canaccord Genuity reissued a “buy” rating and issued a GBX 1,750 ($24.18) target price on shares of Close Brothers Group in a research report on Thursday, January 25th. Liberum Capital reissued a “hold” rating and issued a GBX 1,464 ($20.23) target price on shares of Close Brothers Group in a research report on Thursday, November 23rd. Peel Hunt reissued a “buy” rating and issued a GBX 1,600 ($22.11) target price on shares of Close Brothers Group in a research report on Friday, January 5th. Shore Capital reissued a “hold” rating on shares of Close Brothers Group in a research report on Tuesday, March 13th. Finally, Barclays dropped their target price on Close Brothers Group from GBX 1,570 ($21.69) to GBX 1,545 ($21.35) and set an “equal weight” rating on the stock in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,554.50 ($21.48).
Shares of Close Brothers Group stock opened at GBX 1,477 ($20.41) on Monday. Close Brothers Group has a 12-month low of GBX 1,315 ($18.17) and a 12-month high of GBX 1,715 ($23.69). The company has a market capitalization of $2,270.00 and a price-to-earnings ratio of 1,127.48.
Close Brothers Group (LON:CBG) last released its quarterly earnings data on Tuesday, March 13th. The company reported GBX 71.20 ($0.98) EPS for the quarter, beating the consensus estimate of GBX 68.50 ($0.95) by GBX 2.70 ($0.04). Close Brothers Group had a return on equity of 15.84% and a net margin of 22.76%. The company had revenue of £405.50 million for the quarter.
In other Close Brothers Group news, insider Elizabeth Lee sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of GBX 1,523 ($21.04), for a total value of £106,610 ($147,292.07). Insiders acquired 30 shares of company stock worth $45,470 over the last three months.
COPYRIGHT VIOLATION WARNING: This report was originally published by Stock Observer and is the property of of Stock Observer. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.thestockobserver.com/2018/03/21/berenberg-bank-downgrades-close-brothers-group-cbg-to-hold.html.
About Close Brothers Group
Close Brothers Group plc is a merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three segments: Banking, Securities and Asset Management. The Banking segment provides lending to small businesses and individuals, with an emphasis on specialist finance.
Receive News & Ratings for Close Brothers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Close Brothers Group and related companies with MarketBeat.com's FREE daily email newsletter.