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

Speedy Hire Plc (LON:SDY) shares were down 28.4% during mid-day trading 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 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).

Analyst Upgrades and Downgrades

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

Speedy Hire Stock Down 28.4 %

The company has a market capitalization of £90.98 million, a P/E ratio of 1,970.00, a price-to-earnings-growth 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 fifty day moving average is GBX 28.54 and its 200-day moving average is GBX 33.33.

Speedy Hire (LON:SDY) last posted its 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%. As a group, equities research analysts predict 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. Stockholders of record on Thursday, December 5th were paid a dividend of GBX 0.80 ($0.01) per share. This represents a dividend 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%.

Insider Activity

In other Speedy Hire news, insider Paul A. Rayner purchased 65,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of GBX 28 ($0.35) per share, for a total transaction of £18,200 ($22,642.45). Also, insider David J. B. Shearer acquired 150,000 shares of Speedy Hire 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 ($52,251.80). 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.