BUZZ-Hays: Strong Q2 lifts stock

Wed Jan 13, 2016 3:31am EST
 
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** British recruitment firm Hays up 3 pct after co posts an underlying 7 pct rise in Q2 net fees

** Co cites strong demand in Continental Europe, which offset a slowdown in UK

** Says net fee growth in both temporary and permanent job placements up 7 pct at constant exchange rates

** Hays places workers in areas such as finance, construction and IT

** Stock trades at 13.5x FY16 earnings estimates, with a div yield of 2.6 pct, RBC Capital Markets analyst says, adding that value is starting to emerge and Wednesday's results will help calm nerves

** The analyst says macro uncertainty remains high at present and keeps a "sector perform" rating on the stock

** 12 analysts who currently cover the stock have a "buy" or higher rating on the stock, while 7 analysts have a "hold" recommendation (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)