Rightmove (LON:RMV) Reaches New 52-Week High – Still a Buy?

Rightmove plc (LON:RMV)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 762.64 ($10.19) and last traded at GBX 759 ($10.14), with a volume of 2066840 shares changing hands. The stock had previously closed at GBX 756.40 ($10.10).

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMV. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research report on Wednesday, March 12th. Royal Bank of Canada raised their price objective on Rightmove from GBX 630 ($8.41) to GBX 750 ($10.02) and gave the company a “sector perform” rating in a research note on Monday, March 3rd.

Rightmove Trading Up 0.3%

The business’s fifty day moving average price is GBX 713.10 and its 200 day moving average price is GBX 671.60. 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 firm has a market capitalization of £5.92 billion, a PE ratio of 30.44, a P/E/G ratio of 2.58 and a beta of 1.05.

Rightmove (LON:RMV) last announced its earnings results on Friday, February 28th. The company reported GBX 12.80 ($0.17) earnings per share (EPS) for the quarter. Rightmove had a net margin of 52.69% and a return on equity of 293.54%. As a group, analysts expect that Rightmove plc will post 30.2327791 EPS for the current fiscal year.

Rightmove Increases Dividend

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

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.