Rightmove plc (LON:RMV) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Rightmove has a consensus “Hold” rating from eight brokerages: four rate it a buy, three a hold and one a sell. The average 12-month price target is GBX 595.12, versus a recent share price of GBX 511.50.
• The company reported quarterly EPS of GBX 15.60, with a 49.72% net margin and 281.32% return on equity; analysts expect full-year EPS of GBX 30.23.
• Rightmove’s board authorized an open-market share buyback, while insider Rosemary Leith purchased 2,300 shares at GBX 542 each.

Rightmove plc (LON:RMV - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is GBX 595.12.

Several brokerages recently commented on RMV. Citigroup upped their price target on shares of Rightmove from GBX 455 to GBX 486 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Berenberg Bank reissued a "buy" rating and set a GBX 575 price target on shares of Rightmove in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on Rightmove from GBX 404 to GBX 429 and gave the company an "underweight" rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 465 price objective on shares of Rightmove in a research report on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 665 target price on shares of Rightmove in a research note on Monday, August 3rd.

Rightmove Trading Down 0.1%

Shares of RMV stock opened at GBX 511.50 on Friday. Rightmove has a 12-month low of GBX 391.40 and a 12-month high of GBX 677.60. The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. The stock's 50-day moving average price is GBX 494.66 and its 200-day moving average price is GBX 459.63. The stock has a market capitalization of £3.71 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94.

Rightmove (LON:RMV - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported GBX 15.60 EPS for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. Equities research analysts predict that Rightmove will post 30.23 EPS for the current fiscal year.

Rightmove declared that its Board of Directors has initiated a share buyback plan on Friday, July 31st that authorizes the company to buy back shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Rightmove

In other news, insider Rosemary Leith bought 2,300 shares of the stock in a transaction on Wednesday, October 21st. The stock was bought at an average cost of GBX 542 per share, for a total transaction of £12,466. Insiders own 0.37% of the company's stock.

About Rightmove

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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