Speedy Hire (LON:SDY) Trading Down 26.5% – Here’s What Happened

Speedy Hire Plc (LON:SDY) shares dropped 26.5% on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 20.20 ($0.25). Approximately 24,279,982 shares changed hands during trading, an increase of 1,507% from the average daily volume of 1,510,544 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) target price on shares of Speedy Hire in a research note on Thursday, November 21st.

Speedy Hire Stock Performance

The firm has a market cap of £92.37 million, a price-to-earnings ratio of 2,000.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The business has a 50 day moving average of GBX 28.38 and a 200 day moving average of GBX 33.19. 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) earnings per share (EPS) for the quarter. Speedy Hire had a net margin of 0.64% and a return on equity of 1.50%. On average, research analysts forecast that Speedy Hire Plc will post 3.6102868 earnings per share for the current fiscal year.

Speedy Hire Cuts Dividend

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

Insiders Place Their Bets

In other Speedy Hire news, insider David J. B. Shearer purchased 150,000 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price of GBX 28 ($0.35) per share, for a total transaction of £42,000 ($52,421.37). Also, insider Paul A. Rayner acquired 65,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of GBX 28 ($0.35) per share, for a total transaction of £18,200 ($22,715.93). Insiders have acquired a total of 285,000 shares of company stock valued at $7,420,000 in the last quarter. 5.33% of the stock is currently owned by company 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.