Ashtead Group (OTCMKTS:ASHTY) Releases Earnings Results, Misses Expectations By $0.96 EPS

Key Points

• Ashtead Group reported earnings of $3.80 per share, missing analysts' expectations by $0.96, though revenue slightly exceeded estimates at $2.80 billion.
• The company declared a dividend of $2.81 per share, significantly increased from the previous dividend of $1.44, with a yield of 155.0%.
• Ashtead Group's stock opened at $293.15 with a market capitalization of $31.11 billion and a current ratio of 1.29.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $3.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.76 by ($0.96), Zacks reports. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. Ashtead Group had a return on equity of 20.94% and a net margin of 13.68%.

Ashtead Group Stock Up 0.9%

Shares of ASHTY traded up $2.81 during mid-day trading on Monday, hitting $304.06. The company's stock had a trading volume of 21,629 shares, compared to its average volume of 36,222. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98. The company's 50-day moving average is $276.82 and its 200-day moving average is $245.77. Ashtead Group has a 52-week low of $186.01 and a 52-week high of $337.95. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 22.28 and a beta of 1.73.

Ashtead Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, August 11th will be given a $2.81 dividend. This represents a dividend yield of 155.0%. The ex-dividend date of this dividend is Friday, August 8th. This is a boost from Ashtead Group's previous dividend of $1.44. Ashtead Group's dividend payout ratio is currently 41.17%.

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.