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Asia

Update: ASX Biggest Losers

(Updates to add tickers)Here are the ASX-listed companies with the biggest losses on Friday:Energy Resources of Australia (ASX:ERA): -20%, AU$0.002United Overseas Australia (ASX:UOS): -6%, AU$0.68Tamboran Resources (ASX:TBN): -7%, AU$0.22REA Group (ASX:REA): -4%, AU$141.51News Corp (ASX:NWS): -4%, AU$42.45Viva Energy Group (ASX:VEA): -4%, AU$2.24DigiCo Infrastructure REIT (ASX:DGT): -4%, AU$2.43Tuas (ASX:TUA): -3%, AU$2.62Anteris Technologies Global (ASX:AVR): -3%, AU$13.08Beach Energy (ASX:BPT): -2%, AU$1.06

ASX 200ASX:AVRASX:BPTASX:DGTASX:ERAASX:NWSASX:REAASX:TBNASX:TUAASX:UOSASX:VEA
Asia

Market Chatter: REA Group Gets Lower Fiscal 2027 Profit Forecast From Citi

REA Group (ASX:REA) received a 6% reduction in fiscal 2027 net profit forecast from Citi analyst Siraj Ahmed, with the analyst citing a near-term impact on the company's earnings due to the Australian Government's proposed negative gearing and capital gains tax changes, the Australian Financial Review reported Friday.Ahmed maintained his buy recommendation on REA Group but lowered his target price by 10% to AU$181.15 as the market's reaction has been "excessive" after the company's shares fell 15% since the federal budget was handed down.The impact is expected to be primarily a one-off, with increased turnover from positively geared investors and owner-occupiers, according to Citi.The company anticipated housing listings to fall 5% in fiscal 2027 due to longer holding periods among negatively geared property investors, who account for roughly 40% of Australia's 3.3 million investment properties.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:REA
Asia

REA Group Enters Partnership with Raine & Horne for Core Real Estate Operations Technology Solution

REA Group (ASX:REA) entered a partnership with Raine & Horne to develop a technology for core real estate operations, leveraging REA's audience, agent workflow tools, as well as data and insights, according to a Wednesday statement.Realtair, REA's agent workflow tool, will power a technology upgrade for Raine & Horne agencies.Over 200 residential Raine & Horne offices across Australia will also have access to REA's Pro subscription for agencies from August.The Raine & Horne Commercial network will be provided with a proposal platform for commercial real estate. The platform will be deployed after an iterative development process led by Arealytics, and supported by Raine & Horne and REA.

ASX:REA
Asia

SEEK's Employment Index Implies 2.5% Decline in Listing Volumes in Australia for Fiscal 2026, Jarden Says

SEEK (ASX:SEK) Seek Employment Index in Australia for April fell by 2.8% on a seasonally adjusted basis, following a 2.6% decline in March, and is down 2.1% in the fiscal 2026 second half year-to-date, and if underlying trends remain at current levels, this would imply a 2.5% decline in listing volumes in Australia for fiscal year 2026, according to a Friday note by Jarden.In New Zealand, the Seek Employment Index increased by 9.5% year-over-year for April on an underlying basis, following an 11.6% increase year-over-year in March, and is up 11.5% in the second half to date. The index fell 0.7% in April from March.If April's trends remain at current levels, this would imply a 9% increase in New Zealand listing volumes in fiscal year 2026.For CAR Group (ASX:CAR), Australian new car sales increased by 11.3% in April from 4.6% in March. Sales were up 5.1% on an annual basis for the fiscal 2026 second half year-to-date.REA Group's (ASX:REA) national listing volumes were down 19.4% as of its fiscal third-quarter update, reflected in Proptrack's data. However, new listings were strong in April across all major markets. It guided to a fiscal year volume decline of 1% to 3%.It assigned CAR Group an overweight rating with a price target of AU$29.50 per share, SEEK a buy rating and a price target of AU$23.50 per share, and REA Group a neutral rating with a AU$178 per share price target.

ASX:CARASX:REAASX:SEK
Asia

REA Group Residential Buy Yield Growth Does Heavy Lifting in Fiscal Q3 Result, Jefferies Says

REA Group's (ASX:REA) residential buy yield growth did the heavy lifting in a still-subdued environment, driving its fiscal third quarter result, according to a Friday note by Jefferies.Its residential revenue in Australia was up 12%, driven almost entirely by yield as listings only grew 1% nationally. Buy yield grew 14%.Commercial and New Homes experienced double-digit growth due to price increases and higher project commencements.Free cash flow of AU$135 million was broadly flat, which may indicate some "lumpy" capital expenditure in the quarter.The investment firm has a buy rating on REA with a price target of AU$192 per share.

ASX:REA
Asia

REA Group Fiscal Q3 EBITDA Misses Estimates by 5%, Jarden Says

REA Group's (ASX:REA) earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal third quarter missed Jarden's estimates by 5%, with revenue deferrals potentially explaining a large part of the difference, according to a Friday note with Jarden.Jarden estimated residential yield drove one-third of the revenue miss with its forecast.It lowered its fiscal year 2026 cost growth guidance, with questions arising around the fiscal fourth quarter yield. Its costs are now expected to increase by "low-mid single digits" percent compared with previous guidance of "mid single digits."The investment firm assigned a neutral rating and a price target of AU$176 per share.

ASX:REA
Asia

REA Group Reports Higher Fiscal Q3 Operating EBITDA, Revenue

REA Group (ASX:REA) reported Friday fiscal third-quarter operating earnings before interest, taxes, depreciation, and amortization of AU$220 million, up from AU$199 million a year earlier.Revenue for the quarter ended March 31 was AU$398 million, up from AU$374 million a year ago.The company said it now expects fiscal 2026 operating cost growth in the low-to-mid single digits, an improvement from previous expectations.For fiscal 2026, the company maintained its outlook for a 1% to 3% decline in national residential buy listing volumes, and expects residential buy yield growth of about 13%.

ASX:REA
Asia

Seek Faces Increased Short-Term Competition, AI Risks, Jefferies Says

Seek (ASX:SEK) faces both short- and long-term risks, and could see increased competition when it sells its full stake in Employment Hero, which has 300,000 small and medium-sized enterprise customers across its job portal and app, Jefferies said in a Monday note.Artificial intelligence could result in a broad range of outcomes for Seek, as job ads are text-based and other platforms such as applicant tracking systems can also pair candidates with vacant positions, the equity research firm said.It noted that the Seek Job Ad Index is down around 2.5% in the fiscal year to date, compared with the company's forecast for relatively stable volumes.CAR Group (ASX:CAR) remains Jefferies' top pick in the classifieds sector, supported by a resilient and diversified earnings profile that should perform well even under softer macro conditions. The company is insulated from AI disruption due to its market leadership and rich data sets, while its investment investment in an AI hub will help it tackle any AI-native challengers, Jefferies said.Meanwhile, REA Group (ASX:REA) faces little competitive threat from Domain in the real estate classifieds market. Jefferies sees "a low risk of AI-driven disintermediation for REA, given its metadata advantage, product innovation, and integration into agents' workflows."The equity research firm cut its rating on Seek to hold from buy and lowered its price target to AU$15.90 from AU$24.80. It maintained a buy rating on both CAR Group and REA Group, but cut CAR's price target to AU$33 from AU$38.50, and lowered REA Group's price target to AU$192 from AU$203.The changes are part of a process to standardize valuation across the sector.Seek's shares were down nearly 3% in recent Tuesday trade, CAR Group's shares added about 1%, and REA Group's shares jumped almost 2%.

ASX:CARASX:REAASX:SEK