Ashtead Group (LON:AHT) Releases Earnings Results

Ashtead Group (LON:AHT) issued its earnings results on Tuesday. The company reported GBX 77.20 ($0.98) earnings per share for the quarter, Digital Look Earnings reports. Ashtead Group had a return on equity of 21.43% and a net margin of 14.08%.

Ashtead Group Stock Down 6.0 %

AHT stock opened at GBX 4,512 ($57.34) on Tuesday. The company has a market capitalization of £24.64 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 146.30, a quick ratio of 1.13 and a current ratio of 1.31. The business’s 50 day moving average price is GBX 5,054.71 and its two-hundred day moving average price is GBX 5,460.09. Ashtead Group has a fifty-two week low of GBX 4,512 ($57.34) and a fifty-two week high of GBX 6,448 ($81.94).

Ashtead Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 7th. Shareholders of record on Thursday, January 9th were issued a $0.36 dividend. The ex-dividend date was Thursday, January 9th. This represents a yield of 0.45%. Ashtead Group’s dividend payout ratio (DPR) is presently 28.47%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AHT. JPMorgan Chase & Co. boosted their price objective on Ashtead Group from GBX 6,600 ($83.87) to GBX 7,300 ($92.77) and gave the company an “overweight” rating in a research report on Friday, December 6th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 7,000 ($88.96) target price on shares of Ashtead Group in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 6,800 ($86.42) price target on shares of Ashtead Group in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 6,550 ($83.24).

Insider Activity at Ashtead Group

In other Ashtead Group news, insider Brendan Horgan purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of GBX 5,320 ($67.61) per share, with a total value of £212,800 ($270,428.26). 0.64% of the stock is currently owned by corporate insiders.

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.