|Bid||2,133.00 x 0|
|Ask||2,134.00 x 0|
|Day's range||2,120.00 - 2,179.00|
|52-week range||1,572.50 - 2,358.70|
|Beta (3Y monthly)||1.14|
|PE ratio (TTM)||12.46|
|Earnings date||10 Dec 2019|
|Forward dividend & yield||0.40 (1.84%)|
|1y target est||2,438.13|
The FTSE 100 company, which rents out diggers, construction tools and other equipment, said underlying pretax profit rose 9% to 319 million pounds in the three months ended July 31, compared to analysts' expectations of 317 million pounds. The company's results follows a bumper 2018-19, with Ashtead seeing an uptick in construction companies choosing to rent equipment instead of buying, and as U.S. construction activity boomed.
The FTSE-100 company, which rents out diggers, construction tools and other equipment, said underlying pretax profit rose to 1.11 billion pounds ($1.39 billion) in the year ended April 30, from 927.3 million pounds a year earlier. Total revenue at Sunbelt U.S. increased 20% to $4.99 billion from a year earlier, driving a 19% rise in the group's overall revenue at 4.50 billion pounds ($5.64 billion).
Europe's listed companies are expected to generate 1.2 trillion euros ($1.3 trillion) in revenue from the United States this year, highlighting what's at stake as global trade tensions grow and earnings and economic growth stall. Analysts and investors say that based on revenues, European companies are more vulnerable to a dispute than their competitors in the United States. U.S. President Donald Trump is due to decide by Saturday whether to impose duties on car imports, potentially posing another significant threat to global growth and denting Europe's prized auto sector.
Britain's main stock index tumbled to a near six-week low on Tuesday as investors returned from a long weekend to a threat of more U.S. tariffs on China that triggered a selloff led by oil majors and banks. The FTSE 100 slumped 1.6 percent, while midcaps were 1.2 percent lower. Oil majors Shell and BP suffered their worst day since early December as the trade nerves fanned concerns about global growth and demand.
Britain's main stock index fell to a one-month low on Tuesday as investors returned from a long weekend to a threat by U.S. President Donald Trump to China on tariffs. Mid-cap security group G4S dropped after Canada's Garda World abandoned its takeover plan.
Britain's main stock index bounced back on Monday, rescued from the red by a turnaround in oil majors, although financials fell and industrials were bruised after Boeing said last week it was slashing its 737 aircraft output. The exporter-heavy FTSE 100 was up 0.1 percent at its highest closing level since early October, outshining its European and U.S. counterparts, while the midcaps dipped 0.1 percent.
Britain's FTSE 100 advanced on Tuesday as Ladbrokes owner GVC surged on strong results and a weaker pound paved the way for gains in dollar earners, while Intertek tumbled as investors rushed to book profits after an in-line earnings report. The FTSE 100 was up 0.7 percent, outperforming its euro zone peers.
Britain's FTSE 100 edged higher on Tuesday as Vodafone gained on plans of a bond issuance and exporter stocks benefited from a strong dollar, while Intertek slipped as investors booked in profits after in-line results. The FTSE 100 was up 0.4 percent outperforming its euro-zone peers and the FTSE 250 was roughly flat by 0904 GMT.
Britain's top share index was lower on Thursday, underperforming its European peers, as weaker crude prices dragged oil majors lower and telecom Vodafone and pest control company Rentokil were hurt by weak sector earnings. The FTSE 100 was 0.1 percent lower at 0939 GMT, on track for its third straight session of losses and its worst weekly performance since early December.
British blue-chip stocks rebounded sharply on Friday to bag four weeks of gains despite a tumultuous week in UK politics, helped by improving global sentiment prompted partly by signs of easing trade tensions between the United States and China. The FTSE 100 advanced 2 percent after trading lower most of the week as sterling rose amid tumultuous updates in UK politics and the mid-caps were up 1.2 percent at their highest in a month and a half. A Bloomberg report that China has offered to ramp up U.S. imports accelerated the rise in global stocks that was sparked by another report that said Washington was considering lifting some or all of the tariffs imposed on Chinese imports.
The London-listed company, which hires out diggers, construction tools and other equipment, has also been helped by Brexit-driven weakness in the pound, which has helped increase the value of dollar revenues from the United States. "Our business is performing well in supportive end markets," Ashtead Chief Executive Geoff Drabble said in a statement. Ashtead's shares, which lost ground last week on worries over a U.S.-China trade dispute and an economic slowdown in the United States, climbed 5 percent to 1,689 pence on Tuesday, placing them at the top of London's bluechip index .
Sunbelt made up 87 percent of Ashtead's revenue last year. "Geoff has been a dominant force within Ashtead and many investors will be sad to see him step down ... this has been well flagged and planned, with a strong replacement in Brendan Horgan," Jefferies analysts said.