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Asia

ASX Preview: Australian Shares to Rise Amid Oil Supply Fears; FleetPartners Group Receives Three Revised Acquisition Proposals

Australian shares are poised to rise on Monday, tracking higher oil prices as fresh Houthi and Iranian attacks add to supply concerns following the closure of Saudi Arabia's key East-West oil pipeline, which threatens to disrupt up to 4% of global oil supply.On Sept. 11, the Nasdaq Composite and the Dow Jones Industrial Average each rose nearly 1%, while the S&P 500 gained 0.9%.In the macroeconomy, investors are eyeing Reserve Bank of Australia Assistant Governor Sarah Hunter's speech today.In corporate news, FleetPartners Group (ASX:FPR) said it received three revised acquisition proposals, including a AU$4.55-per-share offer from SG Fleet Topco, AU$4.65-per-share proposal from Orix, and AU$4.65-per-share bid from the Sumitomo consortium.Meanwhile, REA Group (ASX:REA) reached a court-enforceable agreement with the Australian Competition and Consumer Commission to resolve the regulator's concerns related to some of the company's subscription offerings.Australia's benchmark index fell 0.9%, or 78.2 points, to close at 8,741.20 on Sept. 11.

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Asia

REA Group Resolves ACCC Concerns Over Subscription Offerings

REA Group (ASX:REA) reached a court-enforceable agreement with the Australian Competition and Consumer Commission (ACCC) to resolve the regulator's concerns related to some of the company's subscription offerings, according to a Monday filing with the Australian bourse.The company said it made certain commitments, including not to require real estate agency customers to list all or the majority of their properties for sale or rent on realestate.com.au, and to provide "even greater flexibility" for agents to downgrade listings to lower tiers.The ACCC did not initiate legal proceedings against the company, and there was no finding of legal wrongdoing, REA Group said.

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Asia

Jarden Research Adjusts REA Group's Price Target to AU$183 from AU$178, Keeps at Neutral

REA Group (ASX:REA) has an average rating of overweight and mean price target of AU$198.53, according to analysts polled by FactSet.

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Asia

REA Group Delivered 'Solid' Fiscal 2026 Result With EBITDA Beating Consensus on Cost Discipline, Jarden Says

REA Group (ASX:REA) delivered a "solid" fiscal 2026 result with earnings before interest, taxes, depreciation, and amortization beating consensus estimates on cost and capital-allocation discipline, Jarden said in a Friday note.The company guided for a low double-digit controllable buy yield in fiscal 2027 after posting 13% growth in fiscal 2026.Jarden remains constructive on the buy yield going forward, but noted that fiscal 2027 listings guidance points to flat to down in the low single-digit range, with some July softness concentrated in the higher-yielding Sydney and Melbourne markets.The equity research firm made small changes to its near-term adjusted EPS estimates for REA Group, with the fiscal 2027 estimate rising 1%, fiscal 2028 forecast up 2%, and increases of roughly 3% to estimates for fiscal 2030 to fiscal 2033."We continue to see REA executing on controlling the controllables, with the fiscal 2026 result reinforcing the flex it has in its cost base heading into fiscal 2027," Jarden said.It maintained a neutral rating on REA Group while raising the target price to AU$183 from AU$178.The company's shares gained 1% in recent Friday trade.

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Asia

REA Group's Potential Listing Decline Seen as Benign, Jefferies Says

REA Group's (ASX:REA) potential decline in listings appears manageable as the digital real estate company focuses on cost management and yields, helping offset uncertainty from Budget tax changes, Jefferies said in a note on Thursday.The company posted strong fiscal 2026 results, with core profit coming in 1% above consensus expectations and underlying net profit after tax 3% above forecasts. The final dividend of AU$1.73 per share, up 25% year on year, was also a positive surprise.Jefferies expects REA to deliver higher shareholder returns and has increased its payout ratio assumption to 62% from fiscal 2027 onwards, supported by strong free cash flow, a net cash balance, and a "significant" franking balance AU$1.1 billion.The brokerage upgraded its EPS forecast by 5%, primarily due to improved cost control and the divestment of REA India.Jefferies maintained its buy rating and raised price target to AU$195 from AU$180.

ASX:REA
Asia

Australian Shares Hit Fresh New Record; REA Group Fiscal 2026 Core EPS, Revenue Up

Australian shares closed at another record high on Thursday amid optimism around diplomacy in the Middle East leading to a reopening of the Strait of Hormuz.The S&P/ASX 200 Index gained 0.47%, or 43.80 points, to close at 9,271.60, reaching an all-time high.Overnight on Wall Street, the S&P 500 and the Nasdaq Composite fell 0.2% and 0.8%, respectively, while the Dow Jones Industrial Average gained 0.5%. US Federal Reserve governor Lisa Cook signalled that she would vote to raise interest rates if inflation did not abate.Gold bullion rose nearly 1% to around $4,280 per ounce and spot gold reached $4,277.41 per ounce.On the domestic front, Australia's goods balance recorded a seasonally adjusted surplus of AU$1.93 billion in June, up from a deficit of AU$2.37 billion in May, according to data published by the Australian Bureau of Statistics.The total number of dwelling units approved in Australia recorded a 7.2% month-on-month increase to 18,328 in June in seasonally adjusted terms after falling 1.6% in May, according to a report by the Australian Bureau of Statistics.In company news, REA Group (ASX:REA) logged AU$4.935 in core earnings per share for fiscal 2026, compared with AU$4.274 a year ago. For the 12 months ended June, revenue was AU$1.73 billion versus AU$1.54 billion previously.Beach Energy (ASX:BPT) logged AU$0.1556 in underlying EPS for fiscal 2026, compared with AU$0.1976 a year ago. For the 12 months ended June 30, sales revenue was AU$1.8 billion versus about AU$2 billion previously.Lastly, AMP (ASX:AMP) logged AU$0.069 in underlying EPS for the first half, compared with AU$0.052 a year ago. For the six months ended June 30, revenue from ordinary activities was AU$1.43 billion versus AU$1.38 billion previously.

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Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Thursday.Brazilian Rare Earths (ASX:BRE): +7%, AU$4.26Ora Banda Mining (ASX:OBM): +7%, AU$1.34Mineral 260 (ASX:MI6): +6%, AU$0.70Vault Minerals (ASX:VAU): +6%, AU$5.64Genesis Minerals (ASX:GMD): +6%, AU$6.84Regis Resources (ASX:RRL): +6%, AU$7.11Evolution Mining (ASX:EVN): +6%, AU$13.27AMP (ASX:AMP): +6%, AU$2.31REA Group (ASX:REA): +6%, AU$176.02DPM Metals (ASX:DPM): +5%, AU$57.96

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Asia

Update: REA Group Fiscal 2026 Core EPS, Revenue Up; Shares Gain 4%

(Updates with the stock movement in the headline and last paragraph)REA Group (ASX:REA) logged AU$4.935 in core EPS for fiscal 2026, compared with AU$4.274 a year ago, a Thursday filing showed.Analysts polled by FactSet expected AU$4.895.For the 12 months ended June, revenue was AU$1.73 billion versus AU$1.54 billion previously, the Australia-listed digital advertising company added.Analysts polled by FactSet expected AU$1.79 billion.The company's board declared a final dividend of AU$1.73 per share, up from AU$1.38 a year earlier, payable Sept. 11 to shareholders of record as of Aug. 28.The company expects new national buy listings to be flat to down low single-digits in fiscal 2027.REA Group shares rose 4% in recent Thursday trade.

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Asia

REA Group Fiscal 2026 Core EPS, Revenue Up

REA Group (ASX:REA) logged AU$4.935 in core EPS for fiscal 2026, compared with AU$4.274 a year ago, a Thursday filing showed.Analysts polled by FactSet expected AU$4.895.For the 12 months ended June, revenue was AU$1.73 billion versus AU$1.54 billion previously, the Australia-listed digital advertising company added.Analysts polled by FactSet expected AU$1.79 billion.The company's board declared a final dividend of AU$1.73 per share, up from AU$1.38 a year earlier, payable Sept. 11 to shareholders of record as of Aug. 28.The company expects new national buy listings to be flat to down low single-digits in fiscal 2027.

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Asia

REA Group to Sell Housing.com Business to Aurum PropTech

REA Group (ASX:REA) agreed to divest its India-based Housing.com business to Aurum PropTech in an all-share transaction valued at around AU$68 million, according to an Australian bourse filing on Thursday after market hours.REA India's stake in Aurum will increase to 24.9% from 5.5% following the transaction, with the investment to be accounted for as a financial asset, per the filing.The divestment is expected to be completed by the end of the first quarter of fiscal 2027, subject to shareholder approval and customary closing conditions, the filing said.The company expects to record an overall loss on the sale of around AU$110 million due to goodwill impairment and transaction costs.The India business is forecast to generate about AU$62 million in revenue in fiscal 2026 while reducing earnings before interest, taxes, depreciation, and amortization by around AU$36 million, and it will be reported as a discontinued operation, the filing added.

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Asia

REA Group Appoints Chief Commercial, Marketing Officer

REA Group (ASX:REA) appointed Katrina Konstas as chief commercial and marketing officer, effective Sept. 1, according to a Friday statement by the company.Konstas will succeed Kul Singh, who will leave the company in August, the filing added.The company's shares rose around 1% in recent Friday trade.

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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

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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.)

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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.

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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.

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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.

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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.

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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%.

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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%.

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