SSP Group (LON:SSPG) Stock Price Up 8.7% Following Dividend Announcement

Shares of SSP Group plc (LON:SSPG) rose 8.7% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 176.20 ($2.23) and last traded at GBX 176.20 ($2.23). Approximately 43,722,961 shares traded hands during mid-day trading, an increase of 1,645% from the average daily volume of 2,505,273 shares. The stock had previously closed at GBX 162.10 ($2.05).

The newly announced dividend which will be paid on Thursday, February 27th. Shareholders of record on Thursday, January 30th will be issued a dividend of GBX 2.30 ($0.03) per share. This represents a yield of 1.42%. The ex-dividend date is Thursday, January 30th. This is a boost from SSP Group’s previous dividend of $1.20. SSP Group’s dividend payout ratio is 20,000.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SSPG. Shore Capital restated a “house stock” rating on shares of SSP Group in a research report on Friday, November 8th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 180 ($2.28) target price on shares of SSP Group in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SSP Group has an average rating of “Moderate Buy” and a consensus target price of GBX 268.75 ($3.41).

SSP Group Stock Up 9.6 %

The stock’s fifty day simple moving average is GBX 161.78 and its two-hundred day simple moving average is GBX 165.65. The company has a debt-to-equity ratio of 595.27, a current ratio of 0.35 and a quick ratio of 0.66. The company has a market capitalization of £1.42 billion, a price-to-earnings ratio of 17,770.00, a PEG ratio of -0.77 and a beta of 1.88.

Insider Buying and Selling

In other news, insider Jonathan Davies sold 33,392 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of GBX 159 ($2.01), for a total transaction of £53,093.28 ($67,274.81). Also, insider Apurvi Sheth purchased 4,500 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average price of GBX 167 ($2.12) per share, with a total value of £7,515 ($9,522.30). Insiders purchased a total of 4,657 shares of company stock worth $776,540 in the last three months. 0.66% of the stock is owned by insiders.

SSP Group Company Profile

SSP Group plc operates food and beverage outlets in North America, Europe, the United Kingdom, Ireland, the Asia Pacific, Eastern Europe, the Middle East, and internationally. The company operates outlets at airports, railway stations, motorway service areas, hospitals, and shopping centers. It also operates sandwich shops, cafes, bars, and restaurants.