Weak demand could drive down yields at Domain Holdings Australia - UBS

Domain Holdings Australia

20/12/2022 03:18

** Analysts at UBS say Australia-based property technology
and services firm Domain Holdings Australia  DHG.AX  will see a
further drop in yield with the market facing challenges due to
low demand
    ** DHG shares slip as much as 14.4% to A$2.440, on track for
their biggest pct loss since Oct. 2018
    ** Says guidance for controllable yield growth of 6% for H1
2023 compares with 11% growth in controllable yield reported in
Q1 23
    ** UBS says DHG's 2023 first-half EBITDA guidance infers a
revenue downgrade
    ** Says UBS estimates and consensus point to a 17%-18%
growth in revenue for H1 2023, but DHG sees a 4% growth 
    ** Five out of 13 analysts rate the stock 'buy,' while eight
rate it 'sell' or higher; their median PT is A$3.42
    ** Stock down 49.4% this year, as of last close, vs a 4.2%
decrease in the benchmark S&P/ASX 200 index  .AXJO 
 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))