Rightmove (LON:RMV) Shares Pass Below 200-Day Moving Average of $550.37

Rightmove plc (LON:RMV) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 550.37 ($6.82) and traded as low as GBX 543.60 ($6.73). Rightmove shares last traded at GBX 544.80 ($6.75), with a volume of 1,125,734 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank increased their price target on Rightmove from GBX 540 ($6.69) to GBX 620 ($7.68) and gave the company a “hold” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 592.63 ($7.34).

Rightmove Stock Performance

The company has a quick ratio of 2.55, a current ratio of 2.64 and a debt-to-equity ratio of 11.43. The company has a market cap of £4.44 billion, a P/E ratio of 2,270.00, a PEG ratio of 2.58 and a beta of 0.88. The company has a 50 day moving average price of GBX 557.09 and a 200-day moving average price of GBX 550.37.

Rightmove Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be issued a dividend of GBX 3.60 ($0.04) per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a dividend yield of 0.65%. Rightmove’s dividend payout ratio is currently 3,750.00%.

About Rightmove

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.