Australia's Seek top loser on ASX on weaker-than-expected FY24 guidance

SEEK

15/08/2023 06:33

(Updates with comment from Jefferies, share movement)
    ** Shares of Seek Ltd  SEK.AX  slump as much as 9.9% to
A$23.21; set to log their worst day since Oct. 29, 2020
    ** Stock emerges as top loser on benchmark ASX 200  .AXJO 
    ** Employment services provider forecasts FY24 earnings
before interest, tax, depreciation and amortisation between
A$520 mln ($337.27 mln) and A$560 mln, missing a Visible Alpha
consensus of A$581 million 
    ** Co reports full-year EBITDA of A$546.1 mln, with a
revenue of A$1.3 bln
        ** Analyst at Jefferies say co's outlook commentary is
'weak' and see the stock 'to be sold off today'
  
    ** Stock hits lowest level since July 21
    ** Stock has risen nearly 23% this year, as of last close


($1 = 1.5418 Australian dollars)

 (Reporting by Navya Mittal and Archishma Iyer
)
 ((Archishma.Iyer@thomsonreuters.com;))