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Speedy Hire ( (GB:SDY) ) just unveiled an announcement.
Speedy Hire PLC has announced a significant commercial agreement with HSS ProService Limited, a subsidiary of HSS Hire Group, which will be renamed ProService Building Services Marketplace PLC. This agreement involves Speedy Asset Services acquiring certain assets and a 9.99% share in ProService, with a total consideration of £35 million funded from existing resources. The deal is expected to enhance Speedy’s earnings and operating margins significantly in the first full financial year, with a full payback anticipated within two to three years. The agreement aligns with Speedy’s Velocity growth strategy and is anticipated to provide substantial growth opportunities, including the addition of around 300 jobs. The transaction is set to complete by the end of 2025, with Speedy expecting to leverage its strong operating cash flow for meaningful deleveraging over the next 12-24 months.
The most recent analyst rating on (GB:SDY) stock is a Buy with a £60.00 price target. To see the full list of analyst forecasts on Speedy Hire stock, see the GB:SDY Stock Forecast page.
Spark’s Take on GB:SDY Stock
According to Spark, TipRanks’ AI Analyst, GB:SDY is a Neutral.
The overall stock score reflects significant financial and technical challenges. The company’s profitability and cash flow issues, coupled with bearish technical indicators, weigh heavily on the score. While the high dividend yield offers some appeal, it is overshadowed by the broader financial risks.
To see Spark’s full report on GB:SDY stock, click here.
More about Speedy Hire
Speedy Hire PLC is a leading UK-based company specializing in tools and equipment hire services. It focuses on providing a wide range of hire services to various industries, enhancing operational efficiency and offering comprehensive solutions to its clients.
Average Trading Volume: 999,508
Technical Sentiment Signal: Strong Sell
Current Market Cap: £110.9M
For a thorough assessment of SDY stock, go to TipRanks’ Stock Analysis page.