SSP Group (LON:SSPG) Shares Up 8.7% After Dividend Announcement

SSP Group plc (LON:SSPG) was up 8.7% during trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 176.20 ($2.23) and last traded at GBX 176.20 ($2.23). Approximately 43,722,961 shares changed hands during trading, an increase of 1,645% from the average daily volume of 2,505,273 shares. The stock had previously closed at GBX 162.10 ($2.05).

The newly announced dividend which will be paid on Thursday, February 27th. Investors of record on Thursday, January 30th will be paid a GBX 2.30 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from SSP Group’s previous dividend of $1.20. This represents a yield of 1.42%. SSP Group’s dividend payout ratio (DPR) is presently 20,000.00%.

Wall Street Analysts Forecast Growth

SSPG has been the topic of several research analyst reports. Shore Capital reaffirmed a “house stock” rating on shares of SSP Group in a research report on Friday, November 8th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 180 ($2.28) target price on shares of SSP Group in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SSP Group presently has an average rating of “Moderate Buy” and an average target price of GBX 268.75 ($3.40).

SSP Group Stock Up 8.7 %

The firm has a 50 day moving average of GBX 161.44 and a 200-day moving average of GBX 165.84. The company has a debt-to-equity ratio of 595.27, a current ratio of 0.35 and a quick ratio of 0.66. The stock has a market capitalization of £1.41 billion, a P/E ratio of 16,210.00, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88.

Insider Transactions at SSP Group

In other SSP Group news, insider Apurvi Sheth purchased 4,500 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average price of GBX 167 ($2.11) per share, with a total value of £7,515 ($9,511.45). Also, insider Jonathan Davies sold 33,392 shares of SSP Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of GBX 159 ($2.01), for a total value of £53,093.28 ($67,198.18). In the last quarter, insiders have bought 4,657 shares of company stock valued at $776,540. 0.66% of the stock is owned by corporate insiders.

SSP Group Company Profile

SSP Group plc operates food and beverage outlets in North America, Europe, the United Kingdom, Ireland, the Asia Pacific, Eastern Europe, the Middle East, and internationally. The company operates outlets at airports, railway stations, motorway service areas, hospitals, and shopping centers. It also operates sandwich shops, cafes, bars, and restaurants.