Consensus Recommendations (4 January 2018)

Australian analysts cover approximately 450 ASX listed companies.

Unfortunately, when reviewed individually many analysts and stockbrokers have difficulty beating the market average. Their stated “Final Recommendation” provides no advantage to investors.

About Consensus Data

Several firms in Australia collate ASX research reports published by stockbrokers and generate a “Consensus Recommendation” for each company. These data feeds are then on-sold to institutional clients for distribution.

There's a couple of disadvantages to these databases:

1. Lack of depth: Smaller-cap companies are often covered by only one analyst. By default the single rating becomes the “consensus recommendation”.
2. Unknown update times: Analysts often stop coverage on a company without notifying the market. This leads to outdated consensus data.

Market Index tries to counter these pitfalls by:

Minimum broker number: A strong buy requires at least 3 covering brokers.
• Size Filter: Only the largest 150 companies in our consensus database are listed below. Analysts usually review their analysis on large bluechips more often than small-caps.
• Freshness cut-off: Ratings older than 60 days are ignored.

Data Source

Market Index sources data from FNArena.

FNArena monitor 8 major broking firms daily. All open recommendations are documented using a 3 tier scale: Buy, Hold and Sell.

How is the “Consensus” figure derived?

Market Index gives each recommendation a score:
Buy = 3, Hold = 2, Sell = 1
The total is divided by the number of brokers.

A "Strong Buy" requires a minimum of 3 brokers and a "Strong Sell" at least 2.

These levels are arbitrary and were selected to make skimming the list easier.

How to use the data

Consensus data should only be used to uncover companies that might warrant further investigation. Analysts often look solely at a company's fundamentals while ignoring market sentiment and momentum. Don't base any investment decision on the data.

Code Company Price Buy Hold Sell Consensus
A2M The a2 Milk Company $7.43 2 3 0 Hold
ABC Adelaide Brighton $6.48 1 4 1 Hold
ABP Abacus Property Group Units/ Stapled Securities $4.11 0 1 1 Sell
AGL AGL Energy Limited $24.40 5 2 0 Strong Buy
AIZ Air New Zealand Foreign Exempt NZX $2.91 1 1 2 Hold
ALL Aristocrat Leisure $23.45 5 2 0 Strong Buy
ALQ Als Limited $7.04 2 3 1 Hold
ALU Altium Limited $13.22 1 2 0 Hold
AMC Amcor Limited $15.24 3 5 0 Hold
AMP AMP Limited $5.21 3 5 0 Hold
ANN Ansell Limited $23.80 3 2 1 Hold
ANZ ANZ Banking Group Limited $28.59 3 5 0 Hold
APA APA Group Units FP Stapled Securities $8.39 2 2 3 Hold
AST Ausnet Services Limited $1.79 1 5 1 Hold
ASX ASX Limited $54.11 0 3 5 Sell
AWC Alumina Limited $2.48 2 4 1 Hold
AZJ Aurizon Holdings Limited $4.91 1 3 3 Hold
BEN Bendigo and Adelaide $11.63 0 4 3 Hold
BHP BHP Billiton Limited $30.18 6 2 0 Strong Buy
BKL Blackmores Limited $169.50 2 1 0 Buy
BKW Brickworks Limited $14.55 1 3 0 Hold
BLD Boral Limited $7.77 4 1 1 Buy
BOQ Bank of Queensland $12.61 0 5 3 Hold
BPT Beach Energy Limited $1.285 2 2 1 Hold
BSL Bluescope Steel Limited $15.59 4 1 0 Strong Buy
BTT BT Investment MNGMNT $11.30 3 3 0 Buy
BWP BWP Trust Ordinary Units FP $3.10 0 1 3 Strong Sell
BXB Brambles Limited $9.93 2 4 0 Hold
CAR Carsales.com Limited $14.61 4 3 1 Hold
CBA Commonwealth Bank $80.14 0 7 1 Hold
CCL Coca-Cola Amatil $8.45 3 4 1 Hold
CGC Costa Group Holdings $6.58 1 2 0 Hold
CGF Challenger Limited $13.94 1 5 2 Hold
CHC Charter Hall Group Stapled Securities US Prohibited $6.03 4 1 0 Strong Buy
CIM Cimic Group Limited $51.40 1 2 1 Hold
CMW Cromwell Prop Ordinary/Units FP Stapled Securities $1.01 0 3 1 Hold
COH Cochlear Limited $169.65 0 2 5 Strong Sell
CPU Computershare Limited $16.25 1 5 2 Hold
CQR Charter Hall Retail Units FP $4.15 0 4 1 Hold
CSL CSL Limited $139.42 5 2 0 Strong Buy
CSR CSR Limited $4.68 1 3 1 Hold
CTD Corp Travel Limited $20.77 3 2 0 Buy
CTX Caltex Australia $34.31 4 2 1 Hold
CWN Crown Resorts Limited $12.89 2 5 0 Hold
CWY Cleanaway Waste Limited $1.485 3 2 0 Buy
CYB CYBG Plc Cdi 1:1 Foreign Exempt Lse $5.68 1 2 0 Hold
DHG Domain Holdings Aus $3.44 1 1 4 Sell
DLX Duluxgroup Limited $7.60 0 3 4 Sell
DMP Domino PIZZA Enterpr $46.22 2 4 2 Hold
DOW Downer Edi Limited $6.89 3 1 1 Hold
DXS Dexus Units FP Stapled $9.85 3 2 2 Hold
EVN Evolution Mining Limited $2.66 4 3 1 Hold
EVT Event Hospitality $13.55 1 0 1 Hold
FBU Fletcher Building Foreign Exempt NZX $6.97 4 1 1 Buy
FLT Flight Centre Travel $43.69 1 3 4 Hold
FMG Fortescue Metals Group $5.08 5 2 1 Buy
FPH Fisher & Paykel H Foreign Exempt NZX $12.78 0 2 3 Sell
FXJ Fairfax Media Limited $0.77 3 4 0 Hold
GMG Goodman Group Stapled Securities FP $8.43 3 4 0 Hold
GNC Graincorp Limited Class A $8.20 2 3 0 Hold
GPT GPT Group Stapled Securities FP $5.20 3 2 1 Hold
HSO Healthscope Limited $2.10 2 4 1 Hold
HVN Harvey Norman $4.21 2 2 3 Hold
IAG Insurance Australia $7.22 2 6 0 Hold
IFL IOOF Holdings Limited $10.87 2 3 0 Hold
IGO Independence Group $4.98 1 4 1 Hold
ILU Iluka Resources $10.25 3 2 2 Hold
IOF Investa Office Fund Stapled Securities $4.56 2 2 2 Hold
IPL Incitec Pivot $3.85 3 3 1 Hold
IRE Iress Limited $11.41 0 3 1 Hold
IVC Invocare Limited $16.08 2 1 4 Hold
JBH JB Hi-Fi Limited $25.38 1 5 2 Hold
JHG Janus Henderson Chess Depositary Interests $49.23 4 2 0 Buy
JHX James Hardie Indust Chess Depositary Interests 1:1 $22.61 4 2 0 Buy
LLC Lendlease Group Unit/ Stapled Securities $16.21 2 4 0 Hold
LNK Link Admin HLDG $8.51 5 1 0 Strong Buy
MFG Magellan Fin Group Limited $26.63 3 3 0 Buy
MGR Mirvac Group Stapled Securities $2.38 4 2 1 Hold
MIN Mineral Resources $21.73 2 1 0 Buy
MND Monadelphous Group $17.50 0 1 4 Strong Sell
MPL Medibank Private Limited $3.27 1 5 2 Hold
MQA MACQ Atlas Roads Group Ordinary Stapled Securities $6.30 4 1 0 Strong Buy
MQG Macquarie Group Limited $98.83 2 4 1 Hold
MTS Metcash Limited $3.13 2 3 2 Hold
MYO Myob Group Limited $3.63 3 3 0 Buy
NAB National Aust. Bank $29.48 4 2 2 Hold
NCM Newcrest Mining $23.29 0 4 4 Sell
NHC New Hope Corporation $2.52 1 1 1 Hold
NHF Nib Holdings Limited $6.66 1 2 3 Hold
NST Northern Star $6.25 0 5 2 Hold
NUF Nufarm Limited $8.66 3 3 1 Hold
NVT Navitas Limited $5.35 0 5 1 Hold
NXT NEXTDC Limited $5.92 7 0 0 Strong Buy
OGC Oceanagold Corp Chess Depositary Interest 1:1 $3.35 4 2 0 Buy
ORA Orora Limited $3.34 6 2 0 Strong Buy
ORG Origin Energy $9.57 4 3 0 Buy
ORI Orica Limited $18.26 0 6 1 Hold
OSH Oil Search Limited 10 Toea $7.78 4 3 1 Hold
OZL OZ Minerals $9.18 5 3 0 Buy
PGH Pact Group Holdings Limited $5.72 1 4 0 Hold
PLS Pilbara Min Limited $1.18 0 1 1 Sell
PMV Premier Investments $14.73 5 1 0 Strong Buy
PPT Perpetual Limited $48.47 1 3 3 Hold
PRY Primary Health Care $3.60 1 4 1 Hold
PTM Platinum Asset $7.65 0 1 3 Strong Sell
QAN Qantas Airways $5.00 4 0 1 Buy
QBE QBE Insurance Group $10.72 4 2 2 Hold
QUB QUBE Holdings Limited $2.55 2 4 1 Hold
REA REA Group $75.70 1 5 2 Hold
REH Reece Limited $9.70 1 0 0 Buy
RHC Ramsay Health Care $69.44 1 6 0 Hold
RIO RIO Tinto Limited $78.19 6 2 0 Strong Buy
RMD Resmed Inc Cdi 10:1 Foreign Exempt NYSE $10.90 4 2 0 Buy
RRL Regis Resources $4.44 0 3 5 Sell
RWC Reliance Worldwide $3.93 2 1 1 Hold
S32 SOUTH32 Limited $3.58 2 5 1 Hold
SBM ST Barbara Limited $3.92 4 1 0 Strong Buy
SCG Scentre Group Stapled Securities $4.20 5 1 1 Buy
SCP Sca Property Group Units FP Stapled Securities $2.32 0 3 2 Hold
SDF Steadfast Group Limited $2.83 2 0 0 Buy
SEK Seek Limited $18.62 3 2 3 Hold
SGM Sims Metal MGMT Limited $16.20 1 4 0 Hold
SGP Stockland Units/ Stapled Securities $4.44 4 2 1 Hold
SGR The Star Ent Group $6.04 8 0 0 Strong Buy
SHL Sonic Healthcare $22.78 2 2 2 Hold
SKI Spark Infrastructure Stapled $0.65 Loan Note and Unit US Prohib $2.47 2 4 1 Hold
SPK Spark New Zealand Foreign Exempt NZX $3.32 1 0 0 Buy
STO Santos Limited $5.45 3 4 0 Hold
SUN Suncorp Group Limited $13.80 4 2 2 Hold
SVW Seven Group Holdings $15.48 1 1 0 Buy
SYD SYD Airport FP Stapled Securities US Prohibited $7.14 2 3 1 Hold
TAH Tabcorp Holdings Limited $5.50 3 1 1 Hold
TCL Transurban Group Ordinary Shares/Units FP Triple Stapled $12.46 3 3 0 Buy
TLS Telstra Corporation $3.66 4 2 2 Hold
TME Trade Me Group Foreign Exempt NZX $4.34 2 1 2 Hold
TPM TPG Telecom Limited $6.55 1 5 2 Hold
TTS Tatts Group Limited $0.00 1 1 1 Hold
TWE Treasury Wine Estate $15.65 2 2 2 Hold
VAH Virgin Aus HLDG Limited $0.27 1 0 3 Sell
VCX Vicinity Centres Ordinary/Units FP Stapled Securities $2.73 4 1 1 Buy
VOC Vocus Group Limited $3.09 1 7 0 Hold
WBC Westpac Banking Corp $31.23 3 5 0 Hold
WES Wesfarmers Limited $44.43 1 4 3 Hold
WFD Westfield Corp Stapled Securities $9.32 3 1 1 Hold
WHC Whitehaven Coal $4.55 3 3 2 Hold
WOR Worleyparsons Limited $14.37 4 0 1 Buy
WOW Woolworths Group Limited $27.14 3 2 3 Hold
WPL Woodside Petroleum $33.56 2 3 3 Hold
WTC Wisetech Global Limited $14.14 1 1 2 Hold
XRO Xero Limited $28.70 1 1 3 Hold

NOTE: Share prices as at previous close. Some companies aren’t covered by all eight stockbrokers. Analysts tend to produce more reports with a “Buy” than a “Sell” so the number of recommendations generally favour the buy side.



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