We’ve been buyers of SEK this week at or near $14.50. We highlight the benefit of running a stop loss as indicated on the chart. Whilst we see value at the current price point, we’re also mindful that the technical structure is weak, therefore, as a protection of capital we apply a stop loss at $13.90
Seek (SEK.ASX) reported FY16 NPAT of $198m in line with guidance. The company maintained FY17 guidance of NPAT in the range of $215 – $220m.
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Weakness in the education segment was off set by strength in the Asian employment business. FY17 revenue should increase 10% to $1b on EBITDA of $415m, EPS of $0.64 representing 15 – 20% underlying growth. This places the stock on a forward yield of 2.8%, assuming $0.40 in dividends for FY17.
