Redrow plc (LON:RDW) to Issue Dividend of GBX 20

Redrow plc (LON:RDW) declared a dividend on Wednesday, September 13th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, September 21st will be given a dividend of GBX 20 ($0.25) per share on Thursday, November 16th. This represents a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, September 21st. This is an increase from Redrow’s previous dividend of $10.00. The official announcement can be viewed at this link.

Redrow Stock Performance

Shares of Redrow stock opened at GBX 501 ($6.21) on Tuesday. The business’s fifty day simple moving average is GBX 485.85 and its 200 day simple moving average is GBX 483.87. The firm has a market capitalization of £1.66 billion, a P/E ratio of 884.97, a price-to-earnings-growth ratio of -0.81 and a beta of 1.68. Redrow has a 12 month low of GBX 367.40 ($4.55) and a 12 month high of GBX 558.50 ($6.92). The company has a current ratio of 3.07, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 843 ($10.44) price target on shares of Redrow in a report on Monday. UBS Group reiterated a “buy” rating and set a GBX 600 ($7.43) price target on shares of Redrow in a report on Monday, June 12th. Jefferies Financial Group dropped their price target on Redrow from GBX 650 ($8.05) to GBX 643 ($7.96) and set a “buy” rating on the stock in a report on Thursday, June 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Redrow from GBX 440 ($5.45) to GBX 370 ($4.58) and set an “underweight” rating on the stock in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 588.20 ($7.29).

Redrow Company Profile

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