Rightmove PLC

Rightmove Plc is engaged in the operation of property search platform. It operates through the following segments: Agency, New Homes, and Others. The Agency segment consists of resale and lettings property advertising services. The New Homes segment is focused on providing the property advertising services to new home developers and housing associations. The Others segment is involved in the overseas and commercial property advertising services and non-property advertising services. The company was founded by Reginald Stephen Shipperley on May 16, 2000 and is headquartered in London, the United Kingdom.

News Corp

News Corp-controlled REA Group will have to sweeten the deal if it is to bring together two of the English-speaking world's dominant real-estate listing websites, after U.K. counterpart Rightmove rebuffed its initial $7.32 billion approach.

News Corp's REA says $7.3 billion bid for Rightmove was rejected

Rightmove PLC (LSE:RMV) directors have rejected an offer of 698p per share from Rupert Murdoch's REA Group. Australia-based REA, which revealed last week that it was considering an offer, proposed a deal involving 305p of cash and 0.0381 new shares for each Rightmove share.

Rightmove rejects takeover offer from Murdoch's REA Group

Rightmove shares rose 24% in London, valuing the company at about £5.4 billion, or $7.1 billion.

News Corp-Backed REA Considers Deal for Rightmove. What's Behind the Move.

Rupert Murdoch-owned REA Group said Monday that it is contemplating a takeover offer for U.K. property portal Rightmove in a bid to create a global digital real estate business. The Australian property business said it saw the potential acquisition as a "transformational opportunity" and cited "clear similarities" between the two firms.

Rupert Murdoch's property group considers bid for UK's Rightmove, sending shares 23% higher

Rightmove shares surge 20% on interest from Murdoch-owned Aussie peer REA Group

Rupert Murdoch's REA Group mulls bid for U.K. property listing giant Rightmove

After Rightmove PLC (LSE:RMV) shares jumped 20% on the confirmation from Australia's REA Group (ASX:REA) that it was considering a bid, analyst said the situation could get "messy".  The UK online property portal has not yet been approached with a potential bid, the Aussie-listed company said in a statement, adding that it is mulling an offer made up of cash and shares.

Rightmove surges 20% as REA mulls offer but 'it could get messy' say analysts

Rightmove PLC (LSE:RMV) has attracted the interest of Australia's REA Group Limited (ASX:REA), which said today that it is interested in making a cash-and-shares offer for the online property platform.  However, the Aussie-listed group said it has not approached, nor had any discussions with Rightmove about this yet.

Rightmove suitor emerges as Australia's REA Group confirms interest

The recent Bank of England rate cut has led to a significant uptick in property market activity, according to data from Rightmove PLC (LSE:RMV). The property portal has reported a 19% increase in potential buyers contacting estate agents since 1 August, compared to the same period last year.

Property market heating up following interest rate cut, says Rightmove

Rightmove PLC (LSE:RMV) and OpenRent's split will provide a useful test case for how letting agents fare by not listing properties on the portal, analysts say. Having failed to agree on contract terms, Rightmove confirmed the letting agent's departure, alongside its roughly 8% share of listings, from the site on Tuesday.

Rightmove risks OpenRent exit acting as trial run for other agents - analysts

Rightmove PLC (LSE:RMV) has confirmed it has parted ways with OpenRent and assured that the letting platform's departure from the property portal will not affect guidance this year. After conditions for OpenRent's membership to Rightmove could not be settled, the duo's partnership will expire in early September, Rightmove announced on Tuesday.

Rightmove assures OpenRent departure won't affect guidance

Rightmove plc (OTCPK:RTMVF) Q2 2024 Earnings Conference Call July 26, 2024 4:30 AM ET Company Participants Johan Svanstrom - Chief Executive Officer Alison Dolan - Chief Financial Officer Ben Winstanley - Head of Investor Relations Conference Call Participants Jo Barnett-Lamb - UBS Andrew Ross - Barclays Rahul Chopra - HSBC Jessica Pok - Peel Hunt Gareth Davies - Deutsche Numis Will Packer - BNP Paribas Exane Giles Thorne - Jefferies Pete-Veikko Kujala - Morgan Stanley Sean Kealy - Panmure Liberum Johan Svanstrom All right. Good morning, and welcome to Rightmove's results for the first six months of 2024.

Rightmove plc (RTMVF) Q2 2024 Earnings Call Transcript

Rightmove PLC (LSE:RMV) says interest rates need to come down to boost the property market as the mortgage situation remains challenging. Though the online estate agent kept its guidance for this year unchanged, Johan Svanstrom, chief executive.

Rightmove says rate cut needed to ease mortgage challenges

Rightmove has a dominant position in the UK residential property advertising market. With limited opportunity to grow market share in the group's core segments, Rightmove is now looking to expand into new areas. Rightmove is a high-quality business, but is currently too expensive for bargain hunting value investors.

Rightmove: A High-Quality Business, But Pricey

Britain's embattled renters are no strangers to daunting statistics, but the latest data from Rightmove PLC (LSE:RMV) will do little to assuage their anxieties. Average advertised rents outside of London hit a new all-time high of £1,314 per calendar month in the second quarter of 2024, according to the online property platform, indicating a 7% jump from the previous year.

UK rents hit new record as Rightmove calls for more landlord investment

Rightmove PLC (LSE:RMV) has laid out upbeat expectations for the UK housing market over the coming year. Sales agreed between so far are up 17% year on year, Rightmove said on Friday, while latest house price index readings show a 1.7% annual increase, marking the fastest growth in 12 months.

Rightmove optimistic on better year for housing market

British real-estate portal Rightmove Plc said on Friday that higher mortgage rates and lengthier completion times for property sales are expected to weigh on buyer sentiment but still forecasted a better 2024 for the UK residential market.

Rightmove sees higher mortgage rates weighing on UK housing market

Rightmove plc has strong pricing power and is one of the highest quality franchises in the UK stock market. Rightmove plc has delivered a decent total return over the past year, outperforming the iShares MSCI United Kingdom ETF but underperforming the S&P 500 index. The company faces challenges such as reliance on the UK market and housing affordability, but its low valuation presents a potentially attractive investment opportunity, especially with expected interest rate reductions.

Rightmove: This Could Be The Right Time To Buy Shares

Rightmove plc (RTMVF) Q4 2024 Earnings Call Transcript

Rightmove shares fell as the online estate agent cautioned it expects customer numbers to drop due to the current housing market uncertainty. Underlying profits rose by 7% to £258 million in 2023 even with the housing volatility of the past twelve months but going forward that uncertainty will mean fewer agents using the site, it said.

Rightmove slides as housing market uncertainty continues

Britain's Rightmove forecast on Friday a 7%-9% revenue growth for the current financial year after it reported a rise in 2023 profit, in line with market view, buoyed by resilient traffic on its real estate portal.

UK property portal Rightmove forecasts 7%-9% revenue growth in 2024

Rightmove is the UK's leading property advertising portal with a strong competitive advantage based on the network effect. The company's main business is selling advertising services to real estate agencies, but it also offers additional services based on its extensive data on the real estate market. Rightmove has shown exceptional financial performance, with high profitability and return on investment, and has a strong balance sheet.

Rightmove: Wide Moat Company At A Fair Price

I am bullish on Rightmove as it has a solid competitive position. RMV is the leading online real estate portal in the UK. The company's strong network effect and organic traffic make it difficult for newcomers or subscale players to compete, and as mortgage rates ease, RMV is expected to achieve its guidance and revert to its historical valuation.

Rightmove plc: Strong Network Effect That Is Hard To Displace

Rightmove PLC (LSE:RMV) shares took a tumble on Tuesday hit by a downgrade by JPMorgan. The investment bank has downgraded the online property website to ‘underperform' from ‘neutral,' pushing shares down 4.5% to 539.10p.

Rightmove's profit at risk from likely increased costs - JPM

Rightmove PLC (LSE:RMV) fell 3.0% on Wednesday after US rival CoStar signalled it was raising the stakes in the UK online property market. The US online real estate marketplace, information and analytics provider which has a market value of $34.66 billion, fired the warning shot to the UK online property website after completing the £99 million of OnTheMarket yesterday.

Rightmove falls as CoStar fires warning after sealing OnTheMarket deal

Rightmove PLC (LSE:RMV) demonstrated “resilience” to the current housing downturn by upgrading its full-year outlook on Monday, despite trading ahead of expectations, according to analysts.   At its investor day this week, Rightmove said it aims to generate more than £600 million of revenue, over £35 million of commercial real estate revenue, and at least £25 million of mortgage revenue in 2028.

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