Ashtead Group (OTCMKTS:ASHTY) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Ashtead Group (OTCMKTS:ASHTY) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Ashtead Group Stock Performance

Shares of OTCMKTS:ASHTY opened at $292.62 on Thursday. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of 21.44 and a beta of 1.73. Ashtead Group has a 12 month low of $186.01 and a 12 month high of $337.95. The firm’s 50-day moving average is $280.33 and its 200 day moving average is $247.54. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported $3.80 EPS for the quarter, missing the consensus estimate of $4.76 by ($0.96). The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. Ashtead Group had a net margin of 13.68% and a return on equity of 20.94%. Research analysts predict that Ashtead Group will post 15.51 EPS for the current year.

Ashtead Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, August 11th will be paid a $2.81 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a yield of 155.0%. This is a boost from Ashtead Group’s previous dividend of $1.44. Ashtead Group’s payout ratio is 41.25%.

About Ashtead Group

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.