Speedy Hire (LON:SDY) Trading Down 27.1% – Here’s What Happened

Speedy Hire Plc (LON:SDY)’s share price was down 27.1% during trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 20.06 ($0.25). Approximately 22,589,051 shares were traded during mid-day trading, an increase of 1,472% from the average daily volume of 1,437,025 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 70 ($0.87) price target on shares of Speedy Hire in a report on Thursday, November 21st.

Speedy Hire Price Performance

The company’s fifty day simple moving average is GBX 28.38 and its 200-day simple moving average is GBX 33.19. The firm has a market capitalization of £92.37 million, a PE ratio of 2,000.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90.

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

Speedy Hire Cuts Dividend

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

Insider Buying and Selling

In other news, insider David J. B. Shearer acquired 150,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of GBX 28 ($0.35) per share, with a total value of £42,000 ($52,421.37). Also, insider Shatish D. Dasani acquired 70,000 shares of Speedy Hire stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of GBX 20 ($0.25) per share, with a total value of £14,000 ($17,473.79). Insiders purchased 285,000 shares of company stock worth $7,420,000 in the last three months. Corporate insiders own 5.33% of the company’s stock.

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.