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Hi guys your thoughts on ppe it has been struggling but i cant work out why Its revenue up 88% ebitda up 50% and forcasting to be at the top end of guidance It also paid a 7c dividend Its seems like a good stock to own Am i missing something Thanks Tony
Hi Tony,
For those not familiar, Peoplein (PPE) is a workforce solutions company involved in things like recruiting, contracting, rostering, timesheet management, payroll, workplace health and safety management and the like. It’s fairly small, with a market cap of $271m. We haven’t followed this company, and as you rightly point out, the fundamentals look appealing on the surface and brokers like it with 2 Buys & 2 strong buys and a consensus price target of $4.43 (versus $2.67 last), our reservations would be around tightness in the labour market creating a headwind to recruiting volumes. We suspect that’s the reason why the stock is down ~30% over the past 12 months.
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