Speedy Hire (LON:SDY) Stock Price Down 28% – Here’s What Happened

Speedy Hire Plc (LON:SDY)’s stock price dropped 28% during trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.80 ($0.24). Approximately 27,005,754 shares changed hands during mid-day trading, an increase of 1,558% from the average daily volume of 1,629,056 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analyst Ratings Changes

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

Speedy Hire Trading Down 28.4 %

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 stock’s fifty day moving average is GBX 28.71 and its 200 day moving average is GBX 33.48. The stock has a market cap of £90.98 million, a P/E ratio of 1,970.00, a P/E/G ratio of 0.21 and a beta of 1.25.

Speedy Hire (LON:SDY) last announced its quarterly 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%. As a group, equities research analysts predict that Speedy Hire Plc will post 3.6102868 earnings per share for the current fiscal year.

Speedy Hire Cuts Dividend

The company also recently disclosed 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. This represents a yield of 2.76%. The ex-dividend date was Thursday, December 5th. Speedy Hire’s dividend payout ratio (DPR) is currently 30,000.00%.

Insider Buying and Selling

In related news, insider David J. B. Shearer bought 150,000 shares of Speedy Hire stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). Also, insider Paul A. Rayner acquired 65,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired 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 corporate insiders.

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.