Mirvac keeps guidance steady, but shares slide as Jefferies flags rising debt stress
Mirvac shares fall 2.8% after a quarterly update that kept guidance unchanged while default rates climbed.
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what happened
Shares of Australian homebuilder Mirvac fell 2.8% to A$1.77, even though the company kept its earnings and settlements guidance unchanged against a backdrop of growing debt pressure. According to Market Talk, citing Jefferies, Mirvac has added wording that settlements are likely to be weighted toward the second half.
Analyst Andrew Dodds said: "The slowdown in residential activity was better than feared, with sales down 17% and leads down 30% in the 1Q versus 4Q FY26." Default rates rose to 1.1% in the first quarter from 0.3%, which he said is something to watch.
Jefferies had a buy rating and a A$2.09 per share price target on Mirvac ahead of the 1Q update.
why it matters
For markets, the key points are demand trends and the quality of the developer's loan book. Rising defaults alongside weak sales add pressure on Australia's residential property sector even when guidance holds.
tags
instruments
sources
- Mirvac's Steady Guidance Doesn't Thwart Stock Sellers — Market Talk, 21 October 2026 at 23:51 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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