Rightmove (LON:RMV) Reaches New 52-Week High at $710.00

Rightmove plc (LON:RMV)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 710 ($9.38) and last traded at GBX 693.80 ($9.17), with a volume of 103507938 shares traded. The stock had previously closed at GBX 674.40 ($8.91).

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.59) target price on shares of Rightmove in a report on Tuesday, September 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a GBX 483 ($6.38) price objective on shares of Rightmove in a research note on Thursday, June 6th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Rightmove in a research report on Monday, September 2nd. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 602.67 ($7.96).

Rightmove Price Performance

The company has a market cap of £5.46 billion, a price-to-earnings ratio of 2,697.60, a price-to-earnings-growth ratio of 2.58 and a beta of 1.04. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The company has a fifty day moving average price of GBX 588.36 and a two-hundred day moving average price of GBX 560.37.

Rightmove Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of GBX 3.70 ($0.05) per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a yield of 0.65%. Rightmove’s dividend payout ratio is currently 3,600.00%.

Rightmove Company Profile

Rightmove plc, together with its subsidiaries, operates online digital property advertising and information portals in the United Kingdom and internationally. The company operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms.