Seek – Buy

Seek is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

The company reported its FY19 earnings yesterday and provided strong guidance and a positive outlook for FY20.

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F19 was in line with consensus with revenue up 18% and EBITDA up 8%.

FY20 guidance has been upgraded to 15 – 18% revenue growth and profit growth of 10%+. Seek now trades on a 2.8% forward yield.

Buy Seek and sell out of the money covered calls to enhance the yield.

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