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

Speedy Hire Plc (LON:SDY)’s stock price dropped 28.9% on Monday . The stock traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.54 ($0.24). Approximately 25,794,684 shares traded hands during mid-day trading, an increase of 1,536% from the average daily volume of 1,576,401 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 research note on Thursday, November 21st.

Speedy Hire Stock Performance

The company has a market cap of £91.44 million, a PE ratio of 1,980.00, a PEG ratio of 0.21 and a beta of 1.25. The company has a 50-day moving average of GBX 28.71 and a 200-day moving average of 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 released its earnings results on Thursday, November 21st. The company reported GBX 0.07 ($0.00) EPS for the quarter. Speedy Hire had a return on equity of 1.50% and a net margin of 0.64%. As a group, analysts anticipate that Speedy Hire Plc will post 3.6102868 earnings per share for the current 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 issued a GBX 0.80 ($0.01) dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a dividend yield of 2.76%. Speedy Hire’s dividend payout ratio is presently 30,000.00%.

Insider Transactions at Speedy Hire

In other news, insider Paul A. Rayner purchased 65,000 shares of the business’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). Also, insider David J. B. Shearer purchased 150,000 shares of the firm’s stock in a transaction that occurred 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). Insiders own 5.33% of the company’s stock.

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.