Ashtead Group (OTCMKTS:ASHTY) Sets New 52-Week Low on Disappointing Earnings

Ashtead Group plc (OTCMKTS:ASHTY)’s stock price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $223.72 and last traded at $325.35, with a volume of 15685 shares traded. The stock had previously closed at $239.09.

The company reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%.

Ashtead Group Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, February 24th. Shareholders of record on Friday, January 10th were paid a dividend of $1.44 per share. The ex-dividend date was Friday, January 10th. Ashtead Group’s payout ratio is 19.70%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded Ashtead Group from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 3rd.

Ashtead Group Stock Up 36.1 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31. The stock’s fifty day simple moving average is $254.53 and its two-hundred day simple moving average is $283.84. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.49 and a beta of 1.69.

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.