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

Speedy Hire Plc (LON:SDY)’s stock price fell 26.5% during trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 20.20 ($0.25). 24,279,982 shares traded hands during mid-day trading, an increase of 1,507% from the average session volume of 1,510,544 shares. The stock had previously closed at GBX 27.50 ($0.34).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated 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 Trading Down 26.5 %

The business’s 50 day moving average is GBX 28.71 and its 200 day moving average is GBX 33.48. The stock has a market cap of £93.29 million, a price-to-earnings ratio of 2,020.00, a P/E/G ratio of 0.21 and a beta of 1.25. The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90.

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%. As a group, equities analysts expect that Speedy Hire Plc will post 3.6102868 earnings per share for the current fiscal year.

Speedy Hire Cuts Dividend

The business also recently announced 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 of this dividend was Thursday, December 5th. This represents a yield of 2.76%. Speedy Hire’s dividend payout ratio (DPR) is presently 30,000.00%.

Insider Buying and Selling at Speedy Hire

In related news, insider Paul A. Rayner acquired 65,000 shares of Speedy Hire stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of GBX 28 ($0.34) per share, for a total transaction of £18,200 ($22,361.47). Also, insider David J. B. Shearer acquired 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). 5.33% of the stock is 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.