Ashtead Group (OTCMKTS:ASHTY) Issues Quarterly Earnings Results

Ashtead Group (OTCMKTS:ASHTY) issued its earnings results on Tuesday. The company reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38), Zacks reports. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.16 billion. Ashtead Group had a net margin of 14.78% and a return on equity of 22.65%.

Ashtead Group Stock Performance

Shares of ASHTY opened at $236.84 on Thursday. The firm’s fifty day simple moving average is $255.71 and its two-hundred day simple moving average is $283.87. Ashtead Group has a 12 month low of $223.72 and a 12 month high of $337.95. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $25.78 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69.

Ashtead Group Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, February 24th. Investors 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 is presently 19.70%.

Analyst Ratings Changes

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

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.