Seek Looks Overvalued Despite the Slight Earnings Guidance Upgrade
Narrow moat-rated Seek Limited maintained fiscal 2018 revenue growth guidance, of 20% to 25%, and statutory net profit after tax, or NPAT, guidance of AUD 220 to 230 million at its AGM. However, fiscal 2018 EBITDA growth guidance was increased from 10% to 13%. Despite higher EBITDA guidance, we maintain our earnings forecasts including fiscal 2018 revenue growth of 22% and statutory NPAT of AUD 220 million. We also maintain our EBITDA growth forecast at 11% as a range of factors, such as foreign...Seek is engaged in the online matching of hirers and candidates with career opportunities and related services; investing in early stage businesses and technologies which are in or adjacent to the main online employment marketplace; and distribution and provision of vocational training and higher education courses. Co.'s ANZ Employment, Zhaopin, SEEK Asia, Brasil Online and OCC segments provides online employment and marketplace services. Co.'s Education segment includes the marketing, sale and distribution of education courses. Co. also has an Early Stage Ventures segment consisting of a portfolio of Australian and international investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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