Rightmove (LON:RMV) Reaches New 1-Year Low – Here’s Why

Rightmove plc (LON:RMV)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as GBX 409.80 and last traded at GBX 410.20, with a volume of 9517498 shares changing hands. The stock had previously closed at GBX 412.10.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their target price on shares of Rightmove from GBX 521 to GBX 489 and set an “underweight” rating for the company in a research report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 702.33.

Rightmove Price Performance

The stock has a market cap of £3.13 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.58 and a beta of 0.99. The firm has a 50-day moving average price of GBX 452.57 and a 200-day moving average price of GBX 551.78. The company has a debt-to-equity ratio of 13.13, a quick ratio of 2.55 and a current ratio of 1.89.

Rightmove (LON:RMV) last released its quarterly earnings results on Friday, February 27th. The company reported GBX 29.10 earnings per share for the quarter. Rightmove had a return on equity of 264.68% and a net margin of 51.06%. On average, analysts forecast that Rightmove plc will post 30.2327791 earnings per share for the current fiscal year.

Insider Buying and Selling at Rightmove

In other Rightmove news, insider Ruaridh Hook bought 2,077 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of GBX 457 per share, for a total transaction of £9,491.89. Also, insider Johan Svanström bought 4,328 shares of Rightmove stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of GBX 461 per share, for a total transaction of £19,952.08. Company 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.