Founded by three of the UK's largest estate agency chains - Halifax, Countrywide & Connells - Rightmove is a property internet portal. Over half of all UK estate agents advertise their properties on the website, enabling users to see homes for sale or for letting all over the UK. The company floated with plans to specialise in producing Home Information Packs but this has since been dropped after a government u-turn on the idea.
Rightmove Plc Ord 0.1P is listed on the London Stock Exchange trading with ticker code RMV.L, and is part of the Media sector. It has a market capitalisation of £488,971m, with approximately 890m shares in issue. Over the last year, Rightmove Plc share price has been traded in a range of 136, hitting a high of 551.20, and a low of 415.20.
Rightmove Plc, officially known as Rightmove Plc Ord 0.1P was formed in November of 2007, making the company twelve years old. The company filed its latest accounts on 31st December 2014, showing a turnover of approximately 167.01 million GBX, and a pre-tax profit margin of 73.07%. Rightmove Plc currently has 10 directors, and has had 9 previous directors over the last 12 years. In the last set of accounts produced by Kpmg Llp, the company showed 21.65 million paid in salaries to the 388 staff (average wage of 56 thousand), with the directors receiving an average 382 thousand each. In the accounts filed in 2014, the company paid 29490000 in dividends, or 0.0331 per share. These accounts also showed Rightmove Plc to have a net worth of 883 thousand, with 11.21 million held in cash.
Rightmove Plc is in the Media sector.
|G4s Plc (GFS.L)|
|Foreign & Colonial Investment Trust Plc (FRCL.L)|
|Euromoney Institutional Investor Plc (ERM.L)|
|Auto Trader Group Plc (AUTO.L)|
|Shares in Issue||890m|
|52 Week High||551.20|
|52 Week Low||415.20|
Right move Plc. is a ‘Hold’ at the current price levels as the stock would be set for upside soon. The company announced its financial year 2016 results a month back on 24th February and it has come up with impressive numbers. The stock finished trading on the London Stock exchange at 3896p a share on 22nd March, down by 0.56% compared to the previous close. The stock has been in a correction mode for quite some time but it seems that soon it would start consolidating and would be ready to rise again. Currently, the stock has been trading below its 20 day moving average (DMA), 50 DMA and 100 DMA of 3991p, 4003p and 3933p respectively. The immediate support and resistance of the stock lies at 3845p and 4065p respectively. But, in case the stock goes below 3845 as well, then it may test lows up to 3600p as well. The stock is at a very crucial point and traders shall keep an eye at the respective levels and accordingly initiate fresh longs. In case the stock sustains the support at 3845p, then traders or investors can start building fresh long positions, otherwise they should wait for its consolidation and should accordingly build their positions because the medium term to long term view of the stock is bullish. As per the technical indicator, the stock formed a ‘doji’ candlestick pattern which indicates indecisiveness amongst the traders. (Read more)
We reiterate ‘Hold’ on Right move PLC and revise the target price from 4239 p to 4200p. In our last insight on Rightmove PLC , last month, we had given the target price of 4239 p. Post our insight, the stock had made the lows of 3400 p and after consolidating at 3400 pence, it had risen back to 4139 pence. The stock finished trading on the London stock exchange at 3931 pence on 15th March 2016. Based on earnings estimates for the company's fiscal year ending in December 2017, the stock has a price-to-earnings ratio of 26.71 which is quite high compared to FTSE100 12 month forward P/E of 13.37. The stock has a trailing price to earnings of 37.4. Based on the analysis of forward P/E compared to FTSE 100 the stock seems slightly overpriced. Based on the technical analysis, the stock is trading above 20 days, 50 days and 100 days moving average of 3846p, 3833p and 3883p respectively. Technically, we see the stock hovering in the range of 3734 p to 4130 pence. Any breakout above 4130 pence indicates new highs and any breakdown below 3734p indicates another lows. Therefore, the traders and investors shall watch these levels carefully. (Read more)
Rightmove plc is a hold at the current price levels. Though based on the fundamental analysis and valuation we do not see an upside of more than 5 to 10% from the current levels, but any small correction or dip in its stock prices is a ‘Buy’ for the bulls. Based on the technical analysis the stock has been trading above its 50 day and 100 day moving average of 3973 pence and 3861 pence respectively. We see resistance at 4173 pence and once the stock breaks this resistance, it’s all set for a breakout and ready to make new highs. The company has been trading in a range between 2310 p- 4219 p over the past one year. Based on earnings estimates for the company's fiscal year ending in December 2015, the stock has a price-to-earnings ratio of 27.4 which is quite high compared to FTSE100 12 month forward P/E of 13.37. The stock has a trailing price to earnings of 38. Based on the analysis of forward P/E compared to FTSE 100 the stock seems slightly overpriced. It finished trading on London stock exchange on Tuesday 2nd February at 4021 pence a share. (Read more)