Redrow plc (LON:RDW) Given Average Rating of “Hold” by Brokerages

Redrow plc (LON:RDW) has been given an average rating of “Hold” by the six analysts that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is GBX 699.50 ($8.71).

A number of brokerages have recently issued reports on RDW. Citigroup reiterated a “neutral” rating and issued a GBX 756 ($9.41) price target on shares of Redrow in a report on Friday, February 9th. JPMorgan Chase & Co. raised Redrow to a “neutral” rating and raised their price objective for the stock from GBX 410 ($5.10) to GBX 760 ($9.46) in a research report on Friday, April 12th. Royal Bank of Canada cut Redrow to a “sector perform” rating and set a GBX 750 ($9.34) price objective for the company. in a research report on Thursday, March 21st. Finally, Berenberg Bank cut Redrow to a “hold” rating and raised their price objective for the stock from GBX 643 ($8.00) to GBX 688 ($8.56) in a research report on Friday, March 22nd.

Insiders Place Their Bets

In other Redrow news, insider Matthew Pratt sold 27,430 shares of Redrow stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 653 ($8.13), for a total transaction of £179,117.90 ($222,977.59). 25.12% of the stock is currently owned by insiders.

Redrow Trading Down 0.9 %

Shares of LON:RDW opened at GBX 628 ($7.82) on Monday. Redrow has a 12-month low of GBX 423.63 ($5.27) and a 12-month high of GBX 700 ($8.71). The business’s fifty day simple moving average is GBX 658.08 and its 200-day simple moving average is GBX 588.20. The company has a market capitalization of £2.08 billion, a PE ratio of 981.25, a P/E/G ratio of -0.81 and a beta of 1.66. The company has a current ratio of 4.08, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Redrow Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, February 22nd were given a dividend of GBX 5 ($0.06) per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a yield of 0.83%. Redrow’s dividend payout ratio is currently 3,906.25%.

Redrow Company Profile

Redrow plc focuses on housebuilding activities in the United Kingdom. It is involved in acquires, develops, and resells land; develops and sells residential housing properties; and business park maintenance services. Redrow plc was founded in 1974 and is based in Flintshire, the United Kingdom.