Ashtead Group (OTCMKTS:ASHTY) Releases Earnings Results, Beats Estimates By $0.05 EPS

Ashtead Group (OTCMKTS:ASHTY) released its earnings results on Tuesday. The company reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.22 by $0.05, MarketWatch Earnings reports. Ashtead Group had a return on equity of 30.50% and a net margin of 17.30%.

Ashtead Group Price Performance

OTCMKTS ASHTY opened at $267.50 on Wednesday. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.06 and a beta of 1.82. The stock’s fifty day moving average price is $283.16 and its 200 day moving average price is $261.41. Ashtead Group has a 1 year low of $165.51 and a 1 year high of $300.36. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.01 and a quick ratio of 0.92.

Ashtead Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Friday, August 11th will be issued a dividend of $3.35 per share. The ex-dividend date is Thursday, August 10th. This is a positive change from Ashtead Group’s previous dividend of $0.55. Ashtead Group’s dividend payout ratio is currently 45.77%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Ashtead Group from GBX 6,200 ($78.30) to GBX 6,300 ($79.57) in a report on Friday, August 4th. Royal Bank of Canada boosted their price target on Ashtead Group from GBX 5,450 ($68.83) to GBX 5,500 ($69.46) in a report on Thursday, June 15th. Deutsche Bank Aktiengesellschaft upped their target price on Ashtead Group from GBX 4,460 ($56.33) to GBX 5,100 ($64.41) in a report on Thursday, June 15th. Finally, Berenberg Bank upped their target price on Ashtead Group from GBX 405 ($5.11) to GBX 450 ($5.68) in a report on Wednesday, May 10th.

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.