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ASX:SEK

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Asia

SEEK Can 'Easily Achieve' Fiscal Year 2026 Yield Growth Guidance, Says Jarden

SEEK (ASX:SEK) could "easily achieve" its low double-digit yield growth guidance for fiscal year 2026 and is expected to grow by 13.5%, according to a Thursday note by Jarden.Jarden has updated its forecast for the fiscal year 2027 Australia-New Zealand business yield growth to 9% from 8.5%, but offset by its downgrade to the fiscal year 2027 volume assumption to negative 2.5% from flat.The research firm believes that the Australian labor market is past its peak, and currently expects the Australian unemployment rate to increase to 4.8% by June 2027, which is currently at 4.5%, resulting in a reduction to its assumption.Jarden maintained a buy rating on Seek and reduced its price target to AU$23.25 from AU$23.50.

ASX:SEK
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

Seek Says BlackRock Group Ceases to be a Substantial Shareholder

Seek (ASX:SEK) received notice that BlackRock Group and its subsidiaries are no longer substantial holders of the company from April 30, according to a Monday Australian bourse filing.BlackRock Group and its subsidiaries became a substantial holder of the company on March 26, with a 5% total voting power, an earlier filing showed.

ASX:SEK
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