Rightmove (LON:RMV) Share Price Passes Above 200 Day Moving Average of $557.79

Rightmove plc (LON:RMV – Get Rating)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 557.79 ($6.94) and traded as high as GBX 559.40 ($6.96). Rightmove shares last traded at GBX 547.80 ($6.81), with a volume of 1,376,808 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Rightmove from GBX 590 ($7.34) to GBX 530 ($6.59) and set a “neutral” rating for the company in a research note on Tuesday, March 7th. Citigroup reiterated a “sell” rating on shares of Rightmove in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Rightmove from GBX 610 ($7.59) to GBX 600 ($7.46) and set a “hold” rating on the stock in a report on Tuesday, March 7th. Panmure Gordon initiated coverage on shares of Rightmove in a report on Thursday, March 16th. They set a “hold” rating and a GBX 523 ($6.50) price objective on the stock. Finally, Liberum Capital cut their price objective on shares of Rightmove from GBX 705 ($8.77) to GBX 660 ($8.21) and set a “buy” rating on the stock in a report on Monday, March 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Rightmove currently has an average rating of “Hold” and a consensus price target of GBX 581.67 ($7.23).

Rightmove Stock Down 2.1 %

The business’s fifty day moving average price is GBX 562.31 and its 200 day moving average price is GBX 557.79. The firm has a market capitalization of £4.49 billion, a price-to-earnings ratio of 2,381.74, a PEG ratio of 2.58 and a beta of 0.82. The company has a current ratio of 2.66, a quick ratio of 2.55 and a debt-to-equity ratio of 14.04.

Rightmove Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 26th. Stockholders of record on Thursday, April 27th will be issued a GBX 5.20 ($0.06) dividend. This represents a dividend yield of 0.92%. This is a boost from Rightmove’s previous dividend of $3.30. The ex-dividend date is Thursday, April 27th. Rightmove’s payout ratio is presently 3,913.04%.

About Rightmove

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Rightmove plc, together with its subsidiaries, operates property portals in the United Kingdom and internationally. It operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms. It also offers tenant references and rent guarantee insurance services to landlords.