Speedy Hire (LON:SDY) Stock Price Down 28% – Here’s Why

Speedy Hire Plc (LON:SDY)’s share price dropped 28% during trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.80 ($0.24). Approximately 11,274,928 shares traded hands during mid-day trading, an increase of 1,093% from the average daily volume of 945,107 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 70 ($0.86) target price on shares of Speedy Hire in a report on Thursday, November 21st.

Speedy Hire Trading Down 28.7 %

The stock has a market capitalization of £90.52 million, a PE ratio of 1,960.00, a P/E/G ratio of 0.21 and a beta of 1.25. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48. The stock has a 50 day moving average price of GBX 28.71 and a 200-day moving average price of GBX 33.48.

Speedy Hire (LON:SDY) last released its quarterly earnings results on Thursday, November 21st. The company reported GBX 0.07 ($0.00) earnings per share (EPS) for the quarter. Speedy Hire had a return on equity of 1.50% and a net margin of 0.64%. Sell-side analysts expect that Speedy Hire Plc will post 3.6102868 earnings per share for the current year.

Speedy Hire Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 5th were given a dividend of GBX 0.80 ($0.01) per share. The ex-dividend date was Thursday, December 5th. This represents a yield of 2.76%. Speedy Hire’s dividend payout ratio (DPR) is presently 30,000.00%.

Insider Activity at Speedy Hire

In other news, insider David J. B. Shearer bought 150,000 shares of Speedy Hire stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). Also, insider Paul A. Rayner bought 65,000 shares of Speedy Hire stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of GBX 28 ($0.34) per share, for a total transaction of £18,200 ($22,361.47). 5.33% of the stock is owned by company insiders.

About Speedy Hire

Speedy Hire Plc, together with its subsidiaries, provides tools, equipment, and plant hire services to the construction, infrastructure, and industrial markets in the United Kingdom and Ireland. The company hires a range of tools and accessories, including access, lighting, lifting, rail, survey and safety, ATEX, plant, communications, and pipework and engineering equipment; compressors, generators, and pumps; and heating, ventilation, and cooling equipment.