Ashtead Group plc (LON:AHT) Increases Dividend to $0.89 Per Share

Ashtead Group plc (LON:AHT) declared a dividend on Tuesday, June 18th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.89 per share on Tuesday, September 10th. This represents a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 8th. This is a boost from Ashtead Group’s previous dividend of $0.16. The official announcement can be seen at this link.

Ashtead Group Price Performance

Ashtead Group stock opened at GBX 5,240 ($66.58) on Tuesday. The company has a debt-to-equity ratio of 162.35, a quick ratio of 1.13 and a current ratio of 1.36. The company has a market cap of £22.87 billion, a price-to-earnings ratio of 1,817.87, a PEG ratio of 1.26 and a beta of 1.29. Ashtead Group has a 1 year low of GBX 4,437 ($56.38) and a 1 year high of GBX 6,180 ($78.53). The firm has a 50 day moving average price of GBX 5,724.08 and a 200 day moving average price of GBX 5,428.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AHT. Barclays reissued an “overweight” rating and set a GBX 6,600 ($83.86) price objective on shares of Ashtead Group in a research note on Wednesday, May 15th. Royal Bank of Canada lowered their price target on Ashtead Group from GBX 5,300 ($67.34) to GBX 5,100 ($64.80) and set a “sector perform” rating for the company in a research report on Tuesday, March 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 6,150 ($78.14) price objective on shares of Ashtead Group in a report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 6,800 ($86.40) target price on shares of Ashtead Group in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ashtead Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 4,970.63 ($63.16).

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.