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Highlights
- Rightmove PLC (LSE:RMV) claims to be one of the largest online real estate portal and property website of the United Kingdom.
- The company registered a 9.1% YoY growth in total revenue with an increase of around 9.9% YoY in basic earnings per share during FY22.
- RMV posted a growth of ~9% in total dividend attributable for FY22 vs. FY21.
- In terms of profitability guidance, RMV expects an underlying operating margin of 73% for 2023.
Rightmove PLC (LSE: RMV) is an FTSE 100 index listed provider of property portal based in the United Kingdom. The primary business segments include Agency, New Homes and others. The company’s official website runs as rightmove.co.uk, which RMV claims to be one of the largest online real estate portal and property website of the United Kingdom.
The company registered a 9.1% year-on-year (YoY) growth in total revenue with an increase of around 9.9% YoY in basic earnings per share during the last fiscal year (FY22). Also, the firm posted around 9.0% growth in total dividend attributable for FY22 when compared with FY21.
Notably, the company paid a final dividend of 5.20 pence per share on 26 May 2023, while the ex-dividend date was 27 April 2023.
RMV’s Outlook for the Quarters Ahead
With substantial growth in its average revenue per advertiser (ARPA) during the second half of FY22, the company has built a strong platform for further growth in the ongoing fiscal year FY23. In terms of profitability guidance, RMV expects an Underlying Operating Margin of 73% for 2023. Furthermore, FY22 remained second-highest year ever in terms of absolute ARPA growth, according to the company.
The company said it would stay committed to efficient cost management and profitable hike in revenue with continuous investment in innovation while adapting to the evolving housing market conditions.
Top 10 Shareholders
The top 10 shareholders collectively form nearly 53.55% of the total shareholdings. BlackRock Investment Management (UK) Ltd. holds the maximum number of shares with over 8.3% shareholding, followed by Baillie Gifford & Co. with approximately 7.18% shareholding, as depicted in the chart below. The top four shareholders collectively hold nearly 28% stake in the company. Such a high shareholding by institutional investors underpins the fundamental strength of the property portal operator.
Stock Price Performance
The stock has witnessed a decline of approximately 9.2% in the last one month and over the last 6 months, it has decreased by around 6.6%. The stock has a 52-week low and 52-week high of GBX 437.80 and GBX 669.00, respectively and is currently trading lower than the average of 52-week high-low.
(Data Source: EODHD/Others, Analysis done by Kalkine Group)
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 06 June 2023. The reference data in this report has been partly sourced from EODHD/Others.
