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Rightmove (LON:RMV) Hits New 12-Month High - Here's Why

Rightmove logo with Communication Services background

Rightmove plc (LON:RMV - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 749 ($9.96) and last traded at GBX 745.40 ($9.91), with a volume of 14698006 shares trading hands. The stock had previously closed at GBX 742.80 ($9.88).

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RMV. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Rightmove in a research note on Wednesday, March 12th. Royal Bank of Canada boosted their price target on shares of Rightmove from GBX 630 ($8.38) to GBX 750 ($9.97) and gave the company a "sector perform" rating in a research report on Monday, March 3rd.

Read Our Latest Stock Report on Rightmove

Rightmove Stock Performance

The business's 50 day simple moving average is GBX 689.95 and its two-hundred day simple moving average is GBX 658.85. The firm has a market capitalization of £5.59 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15.

Rightmove (LON:RMV - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported GBX 12.80 ($0.17) EPS for the quarter. Rightmove had a return on equity of 293.54% and a net margin of 52.69%. Sell-side analysts anticipate that Rightmove plc will post 30.2327791 EPS for the current fiscal year.

Rightmove Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a GBX 6.10 ($0.08) dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Rightmove's previous dividend of $3.70. Rightmove's dividend payout ratio is 36.10%.

About Rightmove

(Get Free Report)

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.

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