Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Investors of record on Saturday, February 15th will be paid a dividend of 0.057 per share on Friday, February 28th. This represents a $0.23 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, February 14th.
Alta Equipment Group has a dividend payout ratio of 209.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alta Equipment Group to earn ($1.00) per share next year, which means the company may not be able to cover its $0.23 annual dividend with an expected future payout ratio of -23.0%.
Alta Equipment Group Stock Performance
Shares of NYSE:ALTG traded up $0.09 during midday trading on Thursday, reaching $7.46. 82,565 shares of the company's stock traded hands, compared to its average volume of 131,899. Alta Equipment Group has a one year low of $5.40 and a one year high of $13.67. The stock has a 50 day moving average of $7.13 and a 200 day moving average of $7.10. The company has a market cap of $248.25 million, a price-to-earnings ratio of -4.39 and a beta of 1.76. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ALTG. Raymond James dropped their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating on the stock in a report on Thursday, November 14th. Northland Securities reaffirmed a "market perform" rating and issued a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Finally, Northland Capmk cut Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.75.
Read Our Latest Research Report on Alta Equipment Group
About Alta Equipment Group
(
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Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.
Further Reading
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