Ashtead Group (OTCMKTS:ASHTY) Announces Quarterly Earnings Results

Ashtead Group (OTCMKTS:ASHTY) released its quarterly earnings results on Tuesday. The company reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38), Zacks reports. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.16 billion. Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%.

Ashtead Group Stock Performance

ASHTY opened at $236.84 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.31 and a quick ratio of 1.22. The business has a fifty day simple moving average of $255.71 and a 200 day simple moving average of $283.87. Ashtead Group has a 1 year low of $223.72 and a 1 year high of $337.95. The company has a market capitalization of $25.78 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69.

Ashtead Group Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, February 24th. Stockholders of record on Friday, January 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Friday, January 10th. Ashtead Group’s payout ratio is 19.70%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group cut shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada upgraded Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd.

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.