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

Speedy Hire Plc (LON:SDY) shares dropped 28.4% on Monday . The stock 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 mid-day 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).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 70 ($0.88) target price on shares of Speedy Hire in a research note on Thursday, November 21st.

Speedy Hire Stock Performance

The company has a market cap of £92.37 million, a price-to-earnings ratio of 2,000.00, 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’s 50 day moving average price is GBX 28.20 and its 200 day moving average price is GBX 33.05.

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

Speedy Hire Cuts Dividend

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

Insiders Place Their Bets

In related news, insider David J. B. Shearer purchased 150,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of GBX 28 ($0.35) per share, for a total transaction of £42,000 ($52,506.56). Also, insider Shatish D. Dasani bought 70,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of GBX 20 ($0.25) per share, with a total value of £14,000 ($17,502.19). Insiders bought 285,000 shares of company stock worth $7,420,000 over the last three months. 5.33% of the stock is owned by 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.