SEK

Stock Code
Stock Exchange
Seek (SEK) is a leading media company principally focused on online employment classified advertising, with operations in Australia and New Zealand. The Company also offers online training courses to individuals in Australia, New Zealand and UK. Seek listed on the ASX on 19th April, 2005. The inclusion of the SEEK in the ASX/S&P 200 Index occurred in September 2005. To date, Seek has around 400 people employed. In Australia, around 60% of the overall Internet and newspaper job advertisements are posted through Seek’s website, seek.com.au.
Seek (SEK) was the overall worst performing stock taking in a 13.95 percent decrease. It was a mixture of gaming machine manufacturing, support services, gold mining and Internet job recruitment companies who were among the worst performing stocks for the week 17 of 2008 on the Australian sharemarket: Aristocrat (ALL), Brambles (BXB), Newcrest (NCM), Seek (SEK), Sino Gold (SGX). These worst performing stocks for the week 17 recorded losses above 11.89 percent by the end of the trading week.
Emeco Holdings (EHL) was the overall worst performing Australian company this week taking in a 18.6 percent decrease in its share price. It was a mixture of mining, support services, retail and steel companies who were among the worst performing stocks for the week 45 of 2007 on the Australian stockmarket: Brambles (BXB), Wasfarmers (WES), BlueScope Steel (BSL), Emeco Holdings (EHL). These worst performing stocks for week 45 recorded losses above 11.8 percent by the end of the trading week.
Last week, global markets stumbled following reports that China was looking to impose controls to curb its rapidly growing economy and concerns that a soft landing for the US economy may be more difficult than first thought. In the background, the Australian reporting season continued its final week, here are analyst Macquarie Research Equities (MRE) observations and thoughts. The HY December 2006 aggregate earnings reported for the market printed 1.5 percentage points below analyst expectations versus those held at the start of this reporting season.
ABN Amro have rated the Seek (SEK) stock as a Hold and a share price target of $5.00. The profit of $34.1 million was nearly 5 percent higher than the stockbroker's forecast. JP Morgan is Neutral with a target price of $3.00. The analyst has commented that the empyment cycle is set to slow in FY07 and FY08 and they expect this effect to hit revenue growth. Macquarie also has a Neutral outlook and a share price target of $4.72. Merrill Lynch have a Buy, High Risk rating and a share price rating of $5.16.
Macquarie Research Equities (MRE) has noted that about 65% of companies now having reported their profit results to the market. Stocks in the ASX100 have recorded 22 positive surprises and 9 negative surprises for the reporting season to date. The Ex100 was more volatile and reported 29 positive and 28 negative surprises.
Macquarie Research Equities (MRE) have conducted an extensive analysis of stocks that are at risk of earnings downgrades due to increasing cost pressures. While softer revenues are a problem, the real concern lies with accelerating cost growth that is effectively eating into company margins. Against this backdrop, MRE believe that rising costs present an increasing risk to company Earning Per Share (EPS) growth forecasts for FY06.
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Top 50 Public Companies Listed on the Australian Stockmarket as at 18/07/2008
- BHP Billiton
- Commonwealth Bank of Australia (CBA)
- Rio Tinto
- National Australia Bank (NAB)
- Telstra (TLS)
- News Corporation or NewsCorp (NWS)
- Westpac Banking Corporation (WBC)
- Woodside Petroleum Limited (WPL)
- ANZ
- Woolworths Limited (WOW)
- Westfield Group (WDC)
- Westfarmers Limited (WES)
- Fortescue Metals (FMG)
- CSL
- QBE Insurance
- St. George Bank Limited (SGB
- Newcrest Mining Limited (NCM
- Origin Energy Limited (ORG)
- Maquarie Group (MQG)
- AMP Limited (AMP)
- Leighton Holdings (LEI)
- Suncorp-Metway Limited (SUN)
- Brambles Limited (BXB)
- Santos Limited (STO)
- Coal & Allied (CNA)
- Incitec Pivot (IPL)
- Foster’s Group Limited (FGL)
- Orica Limited (ORI)
- BlueScope (BSL)
- AXA Asia Pacific Holdings Limited (AXA)
- Woodside Petroleum Limited (WPL)
- Insurance Australia Group Limited (IAG)
- Stockland (SGP)
- Lihir Gold Limited (LGL)
- Qantas Airways Limited (QAN)
- Oxiana Limited (OXR)
- Sims Group Limited (SGM)
- AGL Energy Limited (AGK)
- OneSteel Limited (OST)
- Transurban Group (TCL)
- Oil Search Limited (OSH)
- Coca-Cola Amatil Limited (CCL)
- Crown (CWN)
- Alumina (AWC)
- ASX (Australian Securities Exchange)
- Macquarie Infrastructure Group (MIG)
- Telecom Corporation of New Zealand (TEL)
- Computershare Limited (CPU)
- Aneka Tambang (Persero) TBK (ATM)
- Tabcorp Holdings (TAH)
