Ashtead Group (LON:AHT) Announces Earnings Results

Ashtead Group (LON:AHT) released its quarterly earnings data on Tuesday. The company reported GBX 175 ($2.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 175.10 ($2.23) by GBX (0.10) ($0.00), Digital Look Earnings reports.

Shares of AHT stock traded up GBX 29 ($0.37) during mid-day trading on Wednesday, reaching GBX 2,678 ($34.08). 1,444,068 shares of the company were exchanged, compared to its average volume of 2,210,000. The business’s 50 day simple moving average is GBX 2,310.94 and its 200 day simple moving average is GBX 2,259.37. The company has a market capitalization of $10.74 billion and a P/E ratio of 15.42. Ashtead Group has a fifty-two week low of GBX 1,010 ($12.85) and a fifty-two week high of GBX 2,797 ($35.60). The company has a debt-to-equity ratio of 181.56, a quick ratio of 1.12 and a current ratio of 1.22.

The firm also recently announced a dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 13th will be given a GBX 33.50 ($0.43) dividend. This represents a dividend yield of 1.26%. This is a positive change from Ashtead Group’s previous dividend of $7.15. The ex-dividend date is Thursday, August 13th. Ashtead Group’s dividend payout ratio is presently 23.23%.

AHT has been the subject of several recent analyst reports. Morgan Stanley cut Ashtead Group to an “equal weight” rating and decreased their price target for the stock from GBX 3,000 ($38.18) to GBX 2,200 ($28.00) in a research note on Monday, May 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Ashtead Group in a research report on Wednesday. UBS Group restated a “neutral” rating on shares of Ashtead Group in a research report on Friday, June 12th. CSFB lifted their price target on shares of Ashtead Group from GBX 2,050 ($26.09) to GBX 2,500 ($31.82) and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Barclays lifted their target price on Ashtead Group from GBX 2,700 ($34.36) to GBX 2,790 ($35.51) and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 2,420.71 ($30.81).

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

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Earnings History for Ashtead Group (LON:AHT)

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