Rightmove (LON:RMV) Announces Earnings Results

Key Points

• Rightmove reported a quarterly earnings per share (EPS) of GBX 14.70 ($0.20), with a notable net margin of 52.69% and a return on equity exceeding 293.54%.
• Despite the positive earnings, Rightmove's stock saw a decline of 1.8% and is currently trading at GBX 780.40 ($10.49).
• JPMorgan Chase & Co. has maintained an "underweight" rating, projecting a price target of GBX 625 ($8.40) for Rightmove shares.

Rightmove (LON:RMV - Get Free Report) issued its quarterly earnings data on Friday. The company reported GBX 14.70 ($0.20) earnings per share for the quarter, Digital Look Earnings reports. Rightmove had a return on equity of 293.54% and a net margin of 52.69%.

Rightmove Stock Performance

RMV stock traded up GBX 7.60 ($0.10) during midday trading on Wednesday, reaching GBX 796.40 ($10.64). 1,301,708 shares of the company's stock traded hands, compared to its average volume of 5,697,728. The firm has a market capitalization of £6.21 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The company has a 50-day moving average price of GBX 773.90 and a two-hundred day moving average price of GBX 719.21. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. Rightmove has a 52 week low of GBX 504.60 ($6.74) and a 52 week high of GBX 801.70 ($10.71).

Analysts Set New Price Targets

Several research firms have recently weighed in on RMV. Peel Hunt restated a "buy" rating and issued a GBX 840 ($11.22) target price on shares of Rightmove in a research report on Friday, July 25th. Berenberg Bank raised their price objective on shares of Rightmove from GBX 795 ($10.62) to GBX 850 ($11.35) and gave the company a "buy" rating in a research report on Tuesday. Royal Bank Of Canada increased their target price on Rightmove from GBX 750 ($10.02) to GBX 805 ($10.75) and gave the company a "sector perform" rating in a report on Monday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a GBX 625 ($8.35) target price on shares of Rightmove in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 815 ($10.88) price target on shares of Rightmove in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 787 ($10.51).

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.