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

Speedy Hire Plc (LON:SDY) shares were down 28% on Monday . The stock traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.80 ($0.24). Approximately 27,005,754 shares were traded during trading, an increase of 1,558% from the average daily volume of 1,629,056 shares. The stock had previously closed at GBX 27.50 ($0.34).

Wall Street Analyst Weigh In

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

Speedy Hire Stock Performance

The company has a market cap of £90.98 million, a PE ratio of 1,970.00, a PEG ratio of 0.21 and a beta of 1.25. 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’s 50 day moving average is GBX 28.71 and its 200-day moving average is GBX 33.48.

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

Speedy Hire Cuts Dividend

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

Insider Activity

In related news, insider David J. B. Shearer acquired 150,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). Also, insider Paul A. Rayner acquired 65,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of GBX 28 ($0.34) per share, with a total value of £18,200 ($22,361.47). Corporate insiders own 5.33% of the company’s stock.

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.