Rightmove (LON:RMV) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Rightmove plc (LON:RMV)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 565.91 ($7.41) and traded as high as GBX 623 ($8.15). Rightmove shares last traded at GBX 622.80 ($8.15), with a volume of 1,090,194 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RMV shares. Berenberg Bank reissued a “buy” rating and issued a GBX 650 ($8.51) price objective on shares of Rightmove in a research note on Tuesday, September 3rd. Shore Capital reissued a “buy” rating on shares of Rightmove in a research note on Monday, September 2nd. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 602.67 ($7.89).

Rightmove Stock Performance

The company has a market cap of £4.89 billion, a PE ratio of 2,491.20, a PEG ratio of 2.58 and a beta of 1.04. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The company has a 50-day moving average of GBX 602.77 and a 200-day moving average of GBX 565.91.

Rightmove Cuts Dividend

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

About Rightmove

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.