Here are three beaten-down ASX shares that have fallen roughly 30% or more over the past six months. REA Group Ltd (ASX: REA), Seek Ltd (ASX: SEK) and Lendlease Group (ASX: LLC) also slipped about 3% on Monday.
The question investors are asking now is whether the sell-off has created a buying opportunity.
REA Group: high quality digital ASX company
REA Group runs Australia’s dominant property listings platform realestate.com.au and earns revenue primarily from agents paying for property advertising and premium listings.
Its strong market share and network effects have historically made it one of the highest quality digital businesses on the ASX.
The main strength of the S&P/ASX 200 Index (ASX: XJO) share is its pricing power. Even when property listings slow, the company has been able to offset weaker volumes by increasing advertising yields and selling premium products.
However, the ASX share faces several risks. Housing market activity directly affects listing volumes, and new competition has emerged after US property giant CoStar acquired rival Domain. Analysts are also watching whether the recent slowdown in listings persists.
Even so, brokers remain broadly constructive on the ASX share. The consensus 12-month price target sits around $218, suggesting potential upside of roughly 30% from the current level of $168.88.
Seek: global employment marketplace
Seek operates one of the world’s largest online employment marketplaces, connecting jobseekers with employers across Australia, Asia, and Latin America. Its strong network effects and dominant brand in Australia are key strengths, giving the ASX share pricing power and a large base of recurring customers.
However, the business is cyclical. Hiring activity tends to slow when economic growth weakens, which can pressure job ad volumes and earnings. The ASX share has also faced profitability challenges recently, with earnings volatility and restructuring efforts weighing on investor sentiment.
Despite the share price drop, analysts remain broadly optimistic. The ASX share, that just dropped out of the ASX 50, carries a consensus strong buy rating. Analysts have set an average 12-month price target of about $25.51, which points to a possible gain of 55% from recent levels.
Lendlease Group: prestigious property developments
Lendlease is one of Australia’s largest property and infrastructure groups. Its operations span development, construction, and investment management across Australia, Asia, Europe, and the United States.
The $2.6 billion ASX share has delivered major projects around the world and holds a large pipeline of urban regeneration developments. Its stamp is on Sydney’s Barangaroo and London’s prestigious Elephant & Castle redevelopment.
A key strength is its global development platform. Large mixed-use projects can generate significant long-term value as sites are developed and assets are sold or moved into investment vehicles.
The property company has also been simplifying its structure and selling non-core assets as part of a strategy to focus on higher-return development activities.
However, Lendlease remains exposed to the property cycle. Higher interest rates, construction cost inflation, and weaker real estate investment activity have all weighed on sentiment toward the sector. The company has also experienced earnings volatility in recent years as projects move through different development phases.
Despite price decline of the ASX share, analysts see potential upside if the restructuring strategy delivers stronger returns.
Broker forecasts currently place the average 12-month price target around $5.30 range. This implies a potential plus of 44% from recent trading levels if (property) markets stabilise.
The post 3 ASX shares down 30% (or more) to buy right now appeared first on The Motley Fool Australia.
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More reading
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- 5 ASX shares I’d buy and hold for the next decade
Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.