SEEK reaffirms guidance for FY17 underlying profit of A$215m-A$220m.
SEEK was able to maintain guidance for FY17 due to strong operational performance from most business units, despite unfavourable currency moves.
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FY17 revenue $1.b, EBITDA $400m, EPS $0.60, DPS $0.40 places the stock a forward yield 2.8%.
We like Seek and see upside earnings potential, however, after entering long positions at the recent low, we now look to lock-in profit ahead of anticipated resistance, at or near $15.50
We’ll revisit new entry opportunities on the next algorithm signal.
