Close Brothers Group plc (CBG) Receives Average Recommendation of “Hold” from Brokerages
Close Brothers Group plc (LON:CBG) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,554.13 ($20.65).
Several research analysts have commented on the company. Numis Securities Ltd downgraded Close Brothers Group plc to a “hold” rating and reduced their price objective for the stock from GBX 1,779 ($23.64) to GBX 1,557 ($20.69) in a report on Monday, July 3rd. J P Morgan Chase & Co raised their price objective on Close Brothers Group plc from GBX 1,780 ($23.65) to GBX 1,800 ($23.92) and gave the stock an “overweight” rating in a report on Monday, July 24th. Peel Hunt restated a “hold” rating and set a GBX 1,600 ($21.26) price objective on shares of Close Brothers Group plc in a report on Friday, July 21st. Shore Capital restated a “hold” rating on shares of Close Brothers Group plc in a report on Tuesday, September 26th. Finally, Liberum Capital raised their price objective on Close Brothers Group plc from GBX 1,400 ($18.60) to GBX 1,535 ($20.40) and gave the stock a “hold” rating in a report on Friday, July 14th.
In other Close Brothers Group plc news, insider Rebekah Etherington sold 19,477 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of GBX 1,474 ($19.59), for a total transaction of £287,090.98 ($381,465.56). Also, insider Jonathan Howell sold 17,363 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of GBX 1,468 ($19.51), for a total value of £254,888.84 ($338,677.70). In the last ninety days, insiders have acquired 30 shares of company stock worth $45,250 and have sold 37,619 shares worth $55,097,727.
Close Brothers Group plc (LON:CBG) traded up 0.55% during trading on Wednesday, hitting GBX 1450.00. The stock had a trading volume of 230,652 shares. Close Brothers Group plc has a 12 month low of GBX 1,222.00 and a 12 month high of GBX 1,715.00. The stock has a 50 day moving average price of GBX 1,500.86 and a 200-day moving average price of GBX 1,550.26. The stock’s market cap is GBX 2.17 billion.
Close Brothers Group plc (LON:CBG) last issued its quarterly earnings results on Tuesday, September 26th. The company reported GBX 131.70 ($1.75) earnings per share for the quarter, topping the consensus estimate of GBX 130.10 ($1.73) by GBX 1.60 ($0.02). Close Brothers Group plc had a return on equity of 17.25% and a net margin of 23.84%. The firm had revenue of £765.60 million for the quarter. On average, equities analysts predict that Close Brothers Group plc will post $129.77 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Thursday, October 12th will be issued a dividend of GBX 40 ($0.53) per share. This is an increase from Close Brothers Group plc’s previous dividend of $20.00. This represents a yield of 2.71%. The ex-dividend date of this dividend is Thursday, October 12th.
Close Brothers Group plc Company Profile
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.
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