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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  REA Group Limited    REA   AU000000REA9

REA GROUP LIMITED

(REA)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/15
141.74 AUD   -1.12%
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

REA : Defers Fiscal Year 2021 Price Rises Amid Uncertain Property Outlook

11/05/2020 | 05:04pm EST

By Stuart Condie

SYDNEY--REA Group Ltd.'s quarterly revenue dropped after Melbourne's coronavirus lockdown stymied activity in Australia's second-largest city, and the real estate advertiser has deferred all fiscal 2021 price rises due to the uncertain outlook.

The Australia-listed group on Friday said revenue excluding broker commissions for the three months through September fell to 195.7 million Australian dollars (US$140.5 million), compared with A$202.3 million a year earlier.

Earnings before interest, tax, amortization and depreciation rose by 8% to A$123.8 million after operating expenses fell to A$71.9 million, down 18% on fiscal 2020's first quarter.

REA said Australian residential revenue rose in the quarter, but that commercial and developer revenue declined. The group cited lower commercial listing volumes in Melbourne, as well as moratoriums on tenant evictions elsewhere.

October national residential listings were down 1% despite increases in Melbourne and Sydney, REA said. It said there were strong levels of buyer enquiry amid low interest rates and healthy bank liquidity, but the uncertain outlook meant it would not raise prices until July.

"Our customers have not fully recovered from the impact of Covid-19 this year and the outlook for the property market is not clear," Chief Executive Owen Wilson said.

REA is 62% owned by News Corp., which also owns Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

11-05-20 1703ET

Stocks mentioned in the article
ChangeLast1st jan.
NEWS CORPORATION 0.05% 18.7 Delayed Quote.4.06%
REA GROUP LIMITED -1.12% 141.74 End-of-day quote.-4.78%
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Financials
Sales 2021 879 M 677 M 677 M
Net income 2021 310 M 238 M 238 M
Net cash 2021 34,5 M 26,6 M 26,6 M
P/E ratio 2021 60,1x
Yield 2021 0,86%
Capitalization 18 726 M 14 454 M 14 423 M
EV / Sales 2021 21,3x
EV / Sales 2022 17,4x
Nbr of Employees 1 496
Free-Float 37,9%
Chart REA GROUP LIMITED
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REA Group Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends REA GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 121,98 AUD
Last Close Price 141,74 AUD
Spread / Highest target 5,83%
Spread / Average Target -13,9%
Spread / Lowest Target -43,6%
EPS Revisions
Managers and Directors
NameTitle
Owen James Wilson Chief Executive Officer & Executive Director
Hamish Roy McLennan Chairman
Janelle Hopkins Chief Financial Officer
Tomas Varsavsky Chief Technology & Data Officer
Kathleen Marie Conlon Independent Non-Executive Director
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