Speedy Hire (LON:SDY) Stock Price Down 28.4% – What’s Next?

Speedy Hire Plc (LON:SDY) dropped 28.4% during 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 changed hands during mid-day 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).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 70 ($0.88) price target on shares of Speedy Hire in a report on Thursday, November 21st.

Speedy Hire Stock Performance

The firm has a market cap of £92.37 million, a P/E ratio of 2,000.00, a PEG ratio of 0.21 and a beta of 1.25. The firm’s fifty day moving average is GBX 28.20 and its two-hundred day moving average is GBX 33.05. 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 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%. Analysts predict that Speedy Hire Plc will post 3.6102868 earnings per share for the current fiscal year.

Speedy Hire Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, December 5th were issued a dividend of GBX 0.80 ($0.01) per share. This represents a dividend yield of 2.76%. The ex-dividend date was Thursday, December 5th. Speedy Hire’s dividend payout ratio (DPR) is presently 30,000.00%.

Insider Activity

In other Speedy Hire news, insider Paul A. Rayner bought 65,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of GBX 28 ($0.35) per share, with a total value of £18,200 ($22,752.84). Also, insider Shatish D. Dasani bought 70,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of GBX 20 ($0.25) per share, with a total value of £14,000 ($17,502.19). In the last 90 days, insiders have acquired 285,000 shares of company stock worth $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.