Speedy Hire (LON:SDY) Shares Down 28.4% – Here’s Why

Speedy Hire Plc (LON:SDY)’s stock price dropped 28.4% on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.70 ($0.25). Approximately 19,416,518 shares were traded during trading, an increase of 1,395% from the average daily volume of 1,299,089 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 set a GBX 70 ($0.87) price objective on shares of Speedy Hire in a report on Thursday, November 21st.

Speedy Hire Price Performance

The company’s fifty day moving average is GBX 28.71 and its two-hundred day moving average is GBX 33.48. The company has a debt-to-equity ratio of 115.48, a quick ratio of 0.90 and a current ratio of 0.94. The firm has a market cap of £90.98 million, a price-to-earnings ratio of 1,970.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25.

Speedy Hire (LON:SDY) last issued 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%. Equities research analysts forecast that Speedy Hire Plc will post 3.6102868 EPS for the current year.

Speedy Hire Cuts Dividend

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

Insiders Place Their Bets

In other news, insider Paul A. Rayner purchased 65,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of GBX 28 ($0.35) per share, for a total transaction of £18,200 ($22,642.45). Also, insider David J. B. Shearer bought 150,000 shares of Speedy Hire stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of GBX 28 ($0.35) per share, for a total transaction of £42,000 ($52,251.80). 5.33% of the stock is currently owned by company insiders.

Speedy Hire Company Profile

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.