Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on RIGHTMOVE PLC. We currently have 3 research reports from 2 professional analysts.
Frequency of research reports
Research reports on
Panmure Research - Media Flash 06-10-15
06 Oct 15
US dollar strength has contributed to yet another strong week for UK media: year to date, the sector is now 14% ahead of the market. The key USD earners to miss out on this trend last week were Entertainment One (acquisition of Astley Baker Davies and rights issue) and Euromoney (emerging market and investment banking concerns). Rightmove had a weaker week, but remains the top performer in the sector on a year to date basis. In contrast Entertainment One is now down over 20% year to date, with valuation now down to 8.8x EPS and 7.5x EBITDA for Mar17E (based on consensus forecasts).
Media - The story so far
04 Sep 15
In this edition of our biannual sector review, we summarise the manner in which recent results, trading statements and M&A activity have influenced our forecasts and recommendations. Most updates have met expectations/ provided reassurance on full-year prospects; however, recent share price performance has been disappointing and in many cases, primarily influenced by macro factors. We see value across a range of stocks (our top five positive picks are WPP, ITV, UBM, ITE and Quarto Group*) and regard several others as fairly valued. We have no Sell recommendations in place at present.
17 Aug 15
Rightmove’s interims provided further confirmation of its status as a tightly managed, highly cash-generative subscription-based business with a clear and consistent strategy, strong competitive position and attractive prospects. Despite a small cost-driven downgrade, we forecast strong EPS and DPS growth and our new 3,377p TP suggests RMV’s stock remains in fair value territory for now. That said, we would not discourage holders from taking some profit following a period of pronounced share price strength.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
Share & share alike
11 Jan 17
Last week’s note ‘2016 AIM IPOs- Another discerning year’ *prompted further perusal of the AIM December 2016 Factsheet. With acknowledgement to BuzzFeed – we have set a simple quiz~. Which are the largest companies on AIM, which trade most and how much? It is a timely reminder that at the year end, focus remained on the FTSE 100 and larger companies, yet the prospects for smaller companies continue to be broadly positive. As the company trading statement season gets underway, the initial signs are encouraging. The tone of these updates will set the trend near term.
What a year it was!
16 Jan 17
2016 got off to a rocky start. Not long into January, after just a few trading days, global equity markets lost more than US$4tn of value due to investor sentiment towards China’s economic slowdown and depreciating currency. This was immediately followed by a slump in the oil price. By the third week of January, Brent Crude hit its year low at $27.10 a barrel causing an immediate sell off in the energy sector. Once the Q1 dust had settled, attention turned to the UK’s vote on whether to remain a member of the EU. The Brexit vote result proved to be a genuine shock for markets, with many investors having believed that the UK would stay within the European Union. Attention soon turned to the equally ill-tempered US Presidential elections and all the political and economic unknowns that Trump’s victory has spawned. As a result, AIM, has seen a roller-coaster of a year in 2016.
Small Cap Breakfast
11 Jan 17
Physiomics* (PYC.L) | Joules Group (JOUL.L) | Premier Asset Management Group (PAM.L) | Evgen Pharma (EVG.L) | Sigma Capital (SGM.L) | Caledonia Mining (CMCL.L) | Omega Diagnostics Group (ODX.L) | Vela Technologies (VELA.L) | Morses Club (MCL.L) | Hummingbird Resources (HUM.L)
Joy of Techs
21 Nov 16
ICT evolution is driven by technological development as advances are made which both meet and shape customer requirements. Our 2011 note No such thing as a telco described the modern reality in that former ‘telcos’ now deliver varying elements of a range of managed services. We built on this theme last year, exploring in further detail their evolutionary paths, operating fundamentals, and cashflow yield similarities. In the consumer environment, demand for bundles of technology is complemented by demand for content. Across the pond, the mooted combination of AT&T and Time Warner typifies the bundled need of ‘pipe’ and content, since unbundled alternatives such as FaceTime and WhatsApp can be easier and clearer to chat over, and Amazon and Netflix are easier to watch anywhere. In the UK, BT’s defensive actions cover delivery, content and capabilities, acquiring EE yet also buying football rights. While TV was long ago added to triple play to become quad play, voice is now merely an app, and fixed and mobile seen as just dumb pipes: it's the content that will influence consumer choices. Growth of TV and film as well as music and gaming over IP leads to UK small cap opportunities. In context of the drive to maximise value from pipes and access by offering content and data, we look at some amongst the potential tech small cap beneficiaries: Amino*, Keyword Studios, ZOO Digital*, 7digital*, KCOM* and CityFibre*.