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Prices & Quotes - UK Markets - Rightmove (RMV)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 672.00p
Change Today:
2.00p
Market Cap:
5,867m
Sector:
Media

Berenberg reiterates 'sell' on Rightmove

By Michele Maatouk

Date: Tuesday 18 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Property website Rightmove was under the cosh on Tuesday as Berenberg reiterated its 'sell' rating on the shares, arguing that the risk/reward is unattractive and that investors should "sell into strength".
The bank, which lifted its price target to 400p from 385p, said it was "very optimistic to assume everything will be fine from here".

It pointed out that after a steep rebound, Rightmove trades at a price-to-earnings of 32x on consensus 2021 earnings per share, earnings which consensus expects to be broadly stable compared to 2019.

"We, however, believe there are material risks to the financial health of estate agents when: a) furlough schemes end, and b) the stamp duty holiday ends at the end of March 2021," it said. "These risks add to an industry already struggling pre-Covid-19 (with numerous branch closures), and will add further pressure on either Rightmove's pricing potential and/or agency customer numbers."

Berenberg said near-term discounts are papering over the cracks and that both cyclical and structural headwinds will resurface sooner rather than later.

"With substantial uncertainty ahead, and with now clear evidence of the cyclicality of Rightmove's business, we believe a materially lower multiple is warranted," it said.

At 0925 BST, the shares were down 3.4% at 609.80p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Rightmove Market Data

Currency UK Pounds
Price 672.00p
Change Today 2.00p
52 Week High 701.20p
52 Week Low 400.10p
Volume 1,156,353
Shares Issued 873.10m
Market Cap 5,867m

Performance Indicators

Compare performance with the sector and the market.

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Income
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Growth
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 3
Buy 1
Neutral 8
Sell 0
Strong Sell 6
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rightmove Dividends

  Latest Previous
  Interim Final
Ex-Div 03-Oct-19 02-May-19
Paid 01-Nov-19 31-May-19
Amount 2.80p 4.00p

Trades for 23-Oct-2020

Time Volume / Share Price
16:35 614,086 @ 672.00p
16:29 160 @ 674.00p
16:29 609 @ 674.00p
16:29 408 @ 674.00p
16:29 6 @ 674.00p

Rightmove Key Personnel

CEO Peter Brooks-Johnson
CFO Alison Dolan