Ashtead Group (OTCMKTS:ASHTY) Reaches New 12-Month Low After Earnings Miss

Shares of Ashtead Group plc (OTCMKTS:ASHTY) hit 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. The stock had previously closed at $239.09.

The company reported $3.09 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%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.16 billion.

Ashtead Group Cuts Dividend

The company also recently declared 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 of this dividend was Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is 19.70%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ASHTY shares. The Goldman Sachs Group cut Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 3rd.

Ashtead Group Price Performance

The company has a market cap of $35.41 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $256.01 and a two-hundred day simple moving average of $284.20.

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.