Speedy Hire (LON:SDY) Trading Down 28% – Here’s Why

Speedy Hire Plc (LON:SDY) shares dropped 28% on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.80 ($0.24). Approximately 11,274,928 shares were traded during mid-day trading, an increase of 1,093% from the average daily volume of 945,107 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analyst Upgrades and Downgrades

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

Speedy Hire Stock Down 28.7 %

The stock has a market capitalization of £90.52 million, a price-to-earnings ratio of 1,960.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The business’s 50-day moving average is GBX 28.71 and its two-hundred day moving average is GBX 33.48. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 115.48.

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

Speedy Hire Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, December 5th. This represents a yield of 2.76%. Speedy Hire’s payout ratio is presently 30,000.00%.

Insider Buying and Selling

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