Speedy Hire (LON:SDY) Stock Price Down 26.4% – Here’s Why

Speedy Hire Plc (LON:SDY)’s share price dropped 26.4% during mid-day trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 20.24 ($0.25). Approximately 19,997,867 shares were traded during mid-day trading, an increase of 1,410% from the average daily volume of 1,324,365 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analysts Set New Price Targets

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 firm has a market cap of £93.98 million, a P/E ratio of 2,035.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48. The business’s fifty day simple moving average is GBX 28.71 and its 200-day simple moving average is GBX 33.48.

Speedy Hire (LON:SDY) last announced its earnings results on Thursday, November 21st. The company reported GBX 0.07 ($0.00) earnings per share for the quarter. Speedy Hire had a net margin of 0.64% and a return on equity of 1.50%. As a group, sell-side analysts expect that Speedy Hire Plc will post 3.6102868 earnings per share for the current year.

Speedy Hire Cuts Dividend

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

Insider Activity at Speedy Hire

In other news, insider David J. B. Shearer bought 150,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 firm’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of GBX 28 ($0.34) per share, with a total value of £18,200 ($22,361.47). 5.33% of the stock is currently owned by corporate insiders.

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.