Rightmove (LON:RMV) Receives Hold Rating from Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Hold” rating on Rightmove, with a GBX 465 price target implying 5.66% downside from the current share price.
• Analyst opinions remain mixed: four analysts rate Rightmove a Buy, three a Hold and one a Sell. The consensus rating is “Hold”, with an average target price of GBX 595.12.
• Rightmove shares opened 1.4% higher at GBX 492.90, while the company reported quarterly EPS of GBX 15.60 and a strong 49.72% net margin.

Rightmove (LON:RMV - Get Free Report)'s stock had its "hold" rating reissued by analysts at Jefferies Financial Group in a research report issued to clients and investors on Tuesday, London Stock Exchange reports. They presently have a GBX 465 price objective on the stock. Jefferies Financial Group's price target indicates a potential downside of 5.66% from the stock's current price.

Several other equities analysts have also recently commented on RMV. Citigroup lifted their target price on shares of Rightmove from GBX 455 to GBX 486 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 575 price target on shares of Rightmove in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on Rightmove from GBX 404 to GBX 429 and gave the stock an "underweight" rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 665 price objective on shares of Rightmove in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of GBX 595.12.

Rightmove Stock Up 1.4%

RMV opened at GBX 492.90 on Tuesday. The company has a debt-to-equity ratio of 7.35, a current ratio of 1.53 and a quick ratio of 2.55. The company's 50-day moving average is GBX 473.35 and its 200 day moving average is GBX 446.91. Rightmove has a fifty-two week low of GBX 391.40 and a fifty-two week high of GBX 747.20. The firm has a market capitalization of £3.60 billion, a P/E ratio of 17.23, a PEG ratio of 2.58 and a beta of 0.91.

Rightmove (LON:RMV - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. Research analysts expect that Rightmove will post 30.2327791 earnings per share for the current fiscal year.

Rightmove announced that its Board of Directors has approved a share buyback plan on Friday, July 31st that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.

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