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

Speedy Hire Plc (LON:SDY) shares fell 28.9% during trading 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 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 Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 70 ($0.87) 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 quick ratio of 0.90 and a current ratio of 0.94. The firm’s fifty day moving average is GBX 28.38 and its two-hundred day moving average is GBX 33.19. The company has a market cap of £92.78 million, a P/E ratio of 2,009.00, a P/E/G ratio of 0.21 and a beta of 1.25.

Speedy Hire (LON:SDY) last released its quarterly earnings results 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%. As a group, analysts anticipate that Speedy Hire Plc will post 3.6102868 earnings per share 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 GBX 0.80 ($0.01) dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a yield of 2.76%. Speedy Hire’s dividend payout ratio is currently 30,000.00%.

Insiders Place Their Bets

In related news, insider Shatish D. Dasani purchased 70,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of GBX 20 ($0.25) per share, with a total value of £14,000 ($17,473.79). Also, insider Paul A. Rayner purchased 65,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of GBX 28 ($0.35) per share, with a total value of £18,200 ($22,715.93). Insiders have purchased 285,000 shares of company stock valued at $7,420,000 over the last ninety days. 5.33% of the stock is owned by 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.