Recently announced, Monster Worldwide (NYSE:MWW - News) signed a four-year contract with the Department for Work and Pensions (:DWP) for providing an online vacancy taking, filling and automated job matching service solution system to the latter.
As per this contract, Monster would refine the existing DWP job finding program by replacing it with its advanced 6Sense technology by autumn 2012, which would be able to match job opportunities with suitable candidate profiles in a much more accurate manner.
Employers in the UK would also benefit at large with this new advanced system as it will not only provide them with a more prolific database from the Business Link website to gauge proficient candidates but also make sure that this tedious process becomes a little less time-consuming.
In 2011, Monster recorded sales of $1,040 million, rising 13.8% from the previous year. We believe that this agreement would have a significant impact on the sales of the company, thereby elevating it to a higher podium benefiting from an even higher sales growth in 2012.
Monster currently seems to be in quite a formidable position to battle its competitors who include big players like Move, Inc. (NasdaqGS:MOVE - News), QuinStreet, Inc. (NasdaqGS:QNST - News) and Bitauto Holdings Limited Americ (NYSE:BITA - News).
We currently project an EPS estimate of 3 cents per share and 29 cents per share for the first quarter of 2012 and for the full year 2012, respectively.
At present we have a Neutral recommendation on Monster Worldwide. The stock currently carries a Zacks #2 Rank, which translates into a short-term rating of Buy.
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