Speedy Hire (LON:SDY) Stock Price Down 28.7% – Here’s What Happened

Speedy Hire Plc (LON:SDY) was down 28.7% on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.60 ($0.24). Approximately 26,067,354 shares changed hands during trading, an increase of 1,541% from the average daily volume of 1,588,256 shares. The stock had previously closed at GBX 27.50 ($0.34).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 70 ($0.87) price target on shares of Speedy Hire in a research note on Thursday, November 21st.

Speedy Hire Price Performance

The stock has a market cap of £92.37 million, a PE ratio of 2,000.00, a P/E/G ratio of 0.21 and a beta of 1.25. The business has a 50 day moving average of GBX 28.38 and a 200-day moving average of GBX 33.19. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48.

Speedy Hire (LON:SDY) last announced its 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%. Equities research analysts predict that Speedy Hire Plc will post 3.6102868 EPS for the current fiscal 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 paid a GBX 0.80 ($0.01) dividend. The ex-dividend date was Thursday, December 5th. This represents a dividend yield of 2.76%. Speedy Hire’s dividend payout ratio (DPR) is presently 30,000.00%.

Insider Buying and Selling

In related news, insider Paul A. Rayner purchased 65,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of GBX 28 ($0.35) per share, with a total value of £18,200 ($22,715.93). Also, insider David J. B. Shearer acquired 150,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of GBX 28 ($0.35) per share, with a total value of £42,000 ($52,421.37). Over the last 90 days, insiders have purchased 285,000 shares of company stock valued at $7,420,000. Corporate insiders own 5.33% of the company’s stock.

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.