Wickes Group (LON:WIX) Reaches New 12-Month High After Dividend Announcement

Shares of Wickes Group plc (LON:WIX) hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as GBX 175 ($2.29) and last traded at GBX 170.60 ($2.23), with a volume of 28581768 shares traded. The stock had previously closed at GBX 165.80 ($2.17).

The newly announced dividend which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 3rd will be issued a GBX 3.60 ($0.05) dividend. This represents a yield of 2.18%. The ex-dividend date is Thursday, October 3rd. Wickes Group’s payout ratio is presently 9,166.67%.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 180 ($2.35) target price on shares of Wickes Group in a research note on Tuesday.

Wickes Group Stock Up 3.3 %

The firm has a market cap of £403.98 million, a PE ratio of 1,421.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.74. The business has a 50-day moving average price of GBX 152.30 and a two-hundred day moving average price of GBX 148.86. The company has a quick ratio of 0.58, a current ratio of 1.18 and a debt-to-equity ratio of 413.84.

About Wickes Group

Wickes Group plc operates as a retailer of home repair, maintenance, and improvement products and services in the United Kingdom. It supports customers home improvements plans through Local Trade, Design and Installation, and do-it-yourself (DIY) prepositions. The company's products portfolio includes kitchen, bathroom, garden and outdoor space, building supplies, tools, timber, doors, drawer fronts, decorating, flooring and tiles, electrical, hardware and roofing, painting, extensions, loft conversions, driveway, hang a shelf, and joinery and landscaping categories.