What Happened to the SEEK Share Price?
SEEK Limited [ASX:SEK] operates a global online employment advertising platform. SEEK operates three main businesses — SEEK employment, SEEK learning and SEEK international in 12 different countries.
The SEEK share price closed 1.78% higher on Thursday.
Why Did This Happen to SEEK Shares?
Today, SEEK’s Chinese subsidiary, career platform Zhaopin, announced a 32% year on year increase in revenue to RMB 298.2 million for the September 2014 quarter.
What Now for SEEK?
Since the start of 2013, the stock price has risen from around $7.10 to today’s $17.
SEEK has been an excellent example of a disruptive tech company. It was able to capture and alter how job seekers applied for positions, ruining a good source of income for newspapers.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
It paid a 30 cent dividend for the 2014 financial year. Its debt levels are acceptable. Also, the company is keen to expand further in international markets.
SEEK is currently trading at a price to earnings ratio of 34 times. However, the average annual P/E this year sits at 27. This is telling you investors are expecting earnings to increase next financial year.
The stock is roughly one dollar off its all time high of $18.25. It is appears to be an expensive stock to buy at its current price of $17.10. However, since reaching a new high this year the share price has regularly traded between $16–18.
The growth in SEEK shares isn’t over, but try not to overpay for the stock.
Shae Smith+
Editor, Money Weekend
The post Why did the SEEK Limited Share Price Rise Today? appeared first on Stock Market News, Finance and Investments | Money Morning Australia.
