8 stories mentioning ASX:PXAUpdated 2d ago
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Pexa Group (ASX:PXA) struck an agreement to divest its Value Australia property valuation platform to an unlisted entity, according to a Friday filing with the Australian bourse.The sale is consistent with the company's plan to exit its digital solutions businesses, and Pexa is targeting completion before the end of the year, per the filing.
PEXA Group (ASX:PXA) said it will participate in the Independent Pricing and Regulatory Tribunal's (IPART) virtual public hearing on the review of Electronic Lodgment Network Operator service fees, arguing that the proposed regulatory approach is unsuitable for digital infrastructure, according to a Tuesday Australian bourse filing.The company said IPART's proposed initial asset base is significantly undervalued due to flawed assumptions on depreciation, returns and asset life, potentially creating long-term financial and operational risks, per the filing.The company has urged a more balanced pricing approach to avoid regulatory decisions that could create unnecessary risks without delivering clear benefits to customers, the filing added.
Pexa Group (ASX:PXA) is expected to face materially lower earnings after the Independent Pricing and Regulatory Tribunal (IPART) proposed a 20% cut to Australian Exchange transfer fees from fiscal 2028, prompting Jefferies to reduce its forecasts and valuation assumptions, the research firm said in a July 3 note.The company said it will strongly oppose the draft proposal and push for any fee reductions to be phased in over four years in order to mitigate business impact, while IPART will accept stakeholder submissions until Aug. 14, hold a public hearing on July 21, and issue its final determination by the end of September.Jefferies expects the proposed pricing changes to reduce Australian Exchange pricing by around 3.3% annually from fiscal 2028, lowering margins to 42% by fiscal 2033 from about 55%, though cost reductions from fiscal 2027 should partly offset the impact.The research firm cut its forecasts for the company's UK business, citing uncertainty following the departure of UK chief executive Joe Pepper and the appointment of Krystle Kocik and Simon Wright as co-CEOs, effective July 1.It also warned that weaker earnings in Australia could limit the company's flexibility in future capital allocation.Jefferies lowered its fiscal 2028 and fiscal 2029 net profit after tax and amortization forecasts by 21% and 33%, respectively, while keeping its discounted cash flow valuation for the UK business unchanged.Jefferies maintained its hold rating on Pexa Group while lowering its price target to AU$9.30 from AU$13.60.Pexa Group's shares added 2% in recent Monday trade but earlier hit an all-time low.
PEXA Group (ASX:PXA) warned of a potential AU$70 million revenue impact following the Independent Pricing and Regulatory Tribunal's (IPART) draft report on Electronic Lodgment Network Operator service fees, which proposes reducing transfer transaction charges by around 20%, according to a Friday Australian bourse filing.The company intends to push for any price cuts to be implemented gradually over a four-year period in order to mitigate business impact, per the filing.The proposal is still open for public consultation, with IPART expected to issue its final recommendations to the Australian Registrars' National Electronic Conveyancing Council following hearings on July 21 and with submissions due by Aug. 14, the filing said.The company said that any changes would take effect from July 1, 2027 and apply for a four-year period through fiscal 2031, while existing fee arrangements would remain in place for fiscal 2027, the filing added.The company's shares tumbled 14% in recent Friday trade and earlier hit a record low.
PEXA Group (ASX:PXA) has an average rating of overweight and mean price target of AU$15.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Here are the ASX-listed companies with the biggest losses on Tuesday.ASX (ASX:ASX): -12%, AU$51.51Elevra (ASX:ELV): -7%, AU$12.75PEXA Group (ASX:PXA): -7%, AU$10.67Infratil (ASX:IFT): -5%, AU$12.29Yancoal Australia (ASX:YAL): -4%, AU$6.69Telix Pharmaceuticals (ASX:TLX): -4%, AU$12.82Challenger (ASX:CGF): -4%, AU$8.89Whitehaven Coal (ASX:WHC): -4%, AU$8.51Netwealth Group (ASX:NWL): -3%, AU$21.69Paladin Energy (ASX:PDN): -3%, AU$11.13
PEXA Group (ASX:PXA) has an average rating of overweight and mean price target of AU$16.02, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Pexa Group (ASX:PXA) shares fell nearly 3% in recent trading on Tuesday even after the company said in a filing late on Monday that its property transaction volumes in Australia grew 7.3% year over year to 935,000 in the fiscal third quarter from 871,000 in the year-ago period.During the quarter ended March 31, transfer volumes grew 7.1% on the prior corresponding period to 588,000 from 549,000. Refinance volumes rose 7.9% versus the prior-year period to 218,000 from 202,000, with growth moderating from about 14% in the first fiscal half.The company reaffirmed its fiscal 2026 forecasts, with group core net profit after tax anticipated at the top end of its guidance. It expects group revenue of AU$395 million to AU$415 million and group core net profit after tax from continuing operations of AU$15 million to AU$25 million.
