Rightmove plc (RTMVF)
| Previous close | 6.99 |
| Open | 6.99 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 6.99 - 6.99 |
| 52-week range | 5.50 - 7.35 |
| Volume | |
| Avg. volume | 19 |
| Market cap | 5.57B |
| Beta (5Y monthly) | 0.95 |
| PE ratio (TTM) | 23.30 |
| EPS (TTM) | 0.30 |
| Earnings date | 26 Jul 2024 - 30 Jul 2024 |
| Forward dividend & yield | 0.11 (1.64%) |
| Ex-dividend date | 25 Apr 2024 |
| 1y target est | N/A |
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ReutersUK's Rightmove cuts 2024 ad revenue forecast on tough market conditions
Rightmove cut its annual average advertising revenue forecast as still high mortgage rates weighed on residential sales while the lettings market remains tight, sending shares in the UK's largest property portal down 5% on Friday. The company, which charges estate agents and homebuilders a fee to list their properties on its website, pointed to a strong lettings market which typically has lower average revenue per advertiser (ARPA). "They (lettings agents) have needed us less for quite a long time because there is just a shortage of lettings properties and so our pricing leverage on the lettings-only space is less than it is in resale," CFO Alison Dolan told Reuters in an interview.
