There is a lot on the radar following on from quite a positive few weeks of earnings reports (you can read James Dunn’s article today).
Online jobs site SEEK (SEK) was one of the best performers, it exceeded expectations with a 38% rise in revenue and a 29% increase in net profit, which resulted in a 40% increase in dividend payout. It’s also just announced the acquisition of JobStreet to further its expansion in Asia. It could be a little expensive though. FN Arena has a consensus target price of $15.59, whereas it is currently trading at in excess of $16. Time to take profit?
“Fund manager Rhett Kessler of Pengana likes two contrarian play stocks – Resmed and Seven West Media. Both are quality companies with good management,” Peter Switzer says.