Speedy Hire (LON:SDY) Shares Down 28.9% – Here’s Why

Speedy Hire Plc (LON:SDY) fell 28.9% on Monday . The stock traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.54 ($0.24). 25,794,684 shares were traded during mid-day trading, an increase of 1,536% from the average session volume of 1,576,401 shares. The stock had previously closed at GBX 27.50 ($0.34).

Wall Street Analyst Weigh In

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

Speedy Hire Price Performance

The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90. The stock has a market cap of £91.44 million, a price-to-earnings ratio of 1,980.00, a P/E/G ratio of 0.21 and a beta of 1.25. The stock has a fifty day moving average of GBX 28.71 and a 200 day moving average of GBX 33.48.

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

Speedy Hire Cuts Dividend

The business also recently declared 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. This represents a yield of 2.76%. The ex-dividend date was Thursday, December 5th. Speedy Hire’s dividend payout ratio is currently 30,000.00%.

Insider Activity at Speedy Hire

In other Speedy Hire news, insider Paul A. Rayner acquired 65,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of GBX 28 ($0.34) per share, for a total transaction of £18,200 ($22,361.47). Also, insider David J. B. Shearer acquired 150,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). 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.