Rightmove (LON:RMV) Posts Earnings Results

Rightmove (LON:RMV) issued its quarterly earnings data on Friday. The company reported GBX 15.60 earnings per share for the quarter, Digital Look Earnings reports. Rightmove had a return on equity of 264.68% and a net margin of 51.06%.

Here are the key takeaways from Rightmove’s conference call:

• H1 revenue rose 7% and underlying EPS increased 6%, supported by ARPA growth, agency membership gains, and contributions from strategic growth areas.
• The core estate agency business delivered 9% revenue growth, record retention in more than a decade, and continued uptake of premium packages and products such as Online Agent Valuation.
• New homes market activity weakened materially, with development membership down 121 in H1 and management expecting development numbers to fall 6%-10% for the full year; group revenue guidance was reduced to 6%-8%.
• Strategic growth areas remain on track for 20%-30% revenue growth in 2026, led by rental services revenue growth of 67% and commercial property growth of 13% in H1.
• Rightmove announced plans to return more than £400 million to shareholders over the next 12 months, including over £330 million of anticipated buybacks, while continuing significant investment in its AI-enabled platform and products.

Rightmove Price Performance

Shares of RMV stock traded up GBX 7.80 during mid-day trading on Friday, reaching GBX 464.60. The company’s stock had a trading volume of 5,267,535 shares, compared to its average volume of 34,621,227. The firm’s 50-day moving average is GBX 439.33 and its two-hundred day moving average is GBX 444.12. The company has a market cap of £3.46 billion, a P/E ratio of 16.59, a PEG ratio of 2.58 and a beta of 0.90. Rightmove has a 1-year low of GBX 391.40 and a 1-year high of GBX 827. The company has a debt-to-equity ratio of 8.73, a quick ratio of 2.55 and a current ratio of 1.89.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RMV. Citigroup dropped their price target on shares of Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. UBS Group reiterated a “neutral” rating and issued a GBX 481 target price on shares of Rightmove in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of Rightmove from GBX 489 to GBX 404 and set an “underweight” rating for the company in a report on Tuesday, June 16th. Finally, Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 465 price objective on shares of Rightmove in a research note on Friday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 607.14.

Insider Transactions at Rightmove

In related news, insider Amanda James acquired 6,016 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of GBX 413 per share, with a total value of £24,846.08. Also, insider Lorna Tilbian bought 3,600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of GBX 403 per share, with a total value of £14,508. Insiders own 0.37% of the company’s stock.

Rightmove Company Profile

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.