Consensus Recommendations (5 December 2017)

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 This leads to outdated consensus data.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 Limited NZ $7.48 2 3 0 Hold
ABC Adelaide Brighton Limited $6.50 1 4 1 Hold
ABP Abacus Property Group Stapled $4.12 0 1 1 Sell
AGL AGL Energy Limited $25.14 6 1 0 Strong Buy
AIZ Air New Zealand Limited NZX $2.87 1 1 2 Hold
ALL Aristocrat Leisure Limited $22.33 5 2 0 Strong Buy
ALQ Als Limited $6.77 2 3 1 Hold
ALU Altium Limited $13.00 1 2 0 Hold
AMC Amcor Limited $15.77 3 5 0 Hold
AMP AMP Limited $5.15 3 5 0 Hold
ANN Ansell Limited $25.03 3 2 1 Hold
ANZ Australia And New Zealand Banking Group Limited $28.33 2 6 0 Hold
APA APA Group Stapled $9.35 2 2 3 Hold
ARB ARB Corporation Limited $19.93 1 2 1 Hold
AST Ausnet Services Limited $1.88 1 5 1 Hold
ASX ASX Limited $57.30 0 4 4 Sell
AWC Alumina Limited $2.26 2 3 2 Hold
AZJ Aurizon Holdings Limited $5.28 1 3 3 Hold
BEN Bendigo And Adelaide Bank Limited $11.69 0 4 3 Hold
BHP BHP Billiton Limited $28.01 6 2 0 Strong Buy
BKL Blackmores Limited $174.22 2 1 0 Buy
BKW Brickworks Limited $14.25 1 3 0 Hold
BLD Boral Limited $7.68 4 1 1 Buy
BOQ Bank of Queensland Limited $12.82 0 5 3 Hold
BPT Beach Energy Limited $1.155 2 2 1 Hold
BSL Bluescope Steel Limited $13.77 4 1 0 Strong Buy
BTT BT Investment Management Limited $11.03 3 3 0 Buy
BWP BWP Trust Ord Units $3.20 0 1 3 Strong Sell
BXB Brambles Limited $10.23 2 4 0 Hold
CAR Carsales.com Limited $14.67 4 4 0 Buy
CBA Commonwealth Bank of Australia $78.92 0 7 1 Hold
CCL Coca-cola Amatil Limited $8.12 3 4 1 Hold
CGC Costa Group Holdings Limited $6.25 1 2 0 Hold
CGF Challenger Limited $13.94 1 5 2 Hold
CHC Charter Hall Group Forus $6.29 4 1 1 Buy
CIM Cimic Group Limited $51.16 1 2 1 Hold
CMW Cromwell Property Group Stapled $1.035 0 3 1 Hold
COH Cochlear Limited $181.69 0 3 4 Sell
CPU Computershare Limited $16.26 1 5 2 Hold
CQR Charter Hall Retail Reit Unit $4.31 0 4 1 Hold
CSL CSL Limited $145.31 5 2 0 Strong Buy
CSR CSR Limited $4.66 1 4 1 Hold
CTD Corporate Travel Management Limited $19.92 2 3 0 Hold
CTX Caltex Australia Limited $35.50 4 2 1 Hold
CWN Crown Resorts Limited $12.11 2 5 0 Hold
CYB CYBG PLC Cdi 1:1 $5.62 1 2 2 Hold
DHG Domain Holdings Australia Limited $3.43 1 0 3 Sell
DLX Duluxgroup Limited $7.95 0 3 4 Sell
DMP Domino's Pizza Enterprises Limited $46.52 2 4 2 Hold
DOW Downer Edi Limited $7.01 3 1 1 Hold
DXS Dexus Stapled $10.35 3 2 2 Hold
EVN Evolution Mining Limited $2.44 4 3 1 Hold
EVT Event Hospitality And Entertainment LTD $13.22 1 0 1 Hold
FBU Fletcher Building Limited NZX $6.25 3 2 1 Hold
FLT Flight Centre Travel Group Limited $43.75 1 3 4 Hold
FMG Fortescue Metals Group LTD $4.62 4 3 1 Hold
FPH Fisher & Paykel Healthcare Corporation Limited NZX $11.80 0 2 3 Sell
FXJ Fairfax Media Limited $0.71 3 4 0 Hold
GMA Genworth Mortgage Insurance Australia Limited $3.17 1 0 1 Hold
GMG Goodman Group Stapled $8.60 3 4 0 Hold
GNC Graincorp Limited $7.65 2 3 0 Hold
GPT GPT Group Stapled $5.41 3 2 1 Hold
HSO Healthscope Limited $2.01 2 4 1 Hold
HVN Harvey Norman Holdings Limited $4.00 2 2 3 Hold
IAG Insurance Australia Group Limited $7.09 2 6 0 Hold
IFL Ioof Holdings Limited $11.14 2 3 0 Hold
IGO Independence Group NL $4.18 1 3 2 Hold
ILU Iluka Resources Limited $9.16 3 2 2 Hold
IOF Investa Office Fund Stapled $4.76 2 2 2 Hold
IPL Incitec Pivot Limited $4.03 3 3 1 Hold
IRE Iress Limited $11.02 0 3 1 Hold
JBH JB Hi-fi Limited $24.10 1 5 2 Hold
JHG Janus Henderson Group PLC Cdi 1:1 $48.96 4 2 0 Buy
JHX James Hardie Industries PLC Cdi 1:1 $21.65 4 2 0 Buy
LLC Lendlease Group Stapled $15.72 1 5 0 Hold
LNK Link Administration Holdings Limited $8.62 5 1 0 Strong Buy
MFG Magellan Financial Group Limited $25.15 2 4 0 Hold
MGR Mirvac Group Stapled $2.41 4 2 1 Hold
MIN Mineral Resources Limited $18.77 2 1 0 Buy
MND Monadelphous Group Limited $18.23 0 1 4 Strong Sell
MPL Medibank Private Limited $3.24 1 4 3 Hold
MQA Macquarie Atlas Roads Group Stapled $6.10 4 1 0 Strong Buy
MQG Macquarie Group Limited $97.45 2 4 1 Hold
MYO Myob Group Limited $3.54 3 3 0 Buy
NAB National Australia Bank Limited $29.47 4 2 2 Hold
NCM Newcrest Mining Limited $23.33 0 4 4 Sell
NHC New Hope Corporation Limited $2.30 1 1 1 Hold
NHF Nib Holdings Limited $6.81 1 2 3 Hold
NST Northern Star Resources LTD $5.86 0 5 2 Hold
NUF Nufarm Limited $8.87 3 3 1 Hold
NVT Navitas Limited $5.30 0 5 1 Hold
NXT Nextdc Limited $5.75 7 0 0 Strong Buy
OGC Oceanagold Corporation Cdi 1:1 $3.42 4 2 0 Buy
ORA Orora Limited $3.30 6 2 0 Strong Buy
ORG Origin Energy Limited $9.10 4 3 0 Buy
ORI Orica Limited $17.24 0 6 2 Hold
OSH Oil Search Limited 10T $7.19 3 4 1 Hold
OZL Oz Minerals Limited $8.39 4 3 1 Hold
PGH Pact Group Holdings LTD $5.56 1 4 0 Hold
PLS Pilbara Minerals Limited $1.02 1 1 0 Buy
PMV Premier Investments Limited $14.44 5 1 0 Strong Buy
PPT Perpetual Limited $47.82 1 3 3 Hold
PRY Primary Health Care Limited $3.71 1 4 1 Hold
PTM Platinum Asset Management Limited $7.51 0 1 3 Strong Sell
QAN Qantas Airways Limited $5.62 4 0 1 Buy
QBE QBE Insurance Group Limited $10.72 4 2 2 Hold
QUB Qube Holdings Limited $2.65 2 4 1 Hold
REA REA Group LTD $78.52 1 6 1 Hold
REH Reece Limited $47.81 1 0 0 Buy
RHC Ramsay Health Care Limited $70.41 1 6 0 Hold
RIO RIO Tinto Limited $72.05 6 2 0 Strong Buy
RMD Resmed Inc Cdi 10:1 $11.05 4 2 0 Buy
RRL Regis Resources Limited $3.95 0 3 5 Sell
RWC Reliance Worldwide Corporation Limited $3.87 2 1 1 Hold
S32 SOUTH32 Limited $3.26 1 6 1 Hold
SBM ST Barbara Limited $3.26 4 1 0 Strong Buy
SCG Scentre Group Stapled $4.22 5 1 1 Buy
SCP Shopping Centres Australasia Property Group Stapled $2.42 0 3 2 Hold
SEK Seek Limited $18.80 3 2 3 Hold
SGM Sims Metal Management Limited $14.08 1 4 0 Hold
SGP Stockland Stapled $4.65 3 3 1 Hold
SGR The Star Entertainment Group Limited $5.84 8 0 0 Strong Buy
SHL Sonic Healthcare Limited $22.54 2 2 2 Hold
SKI Spark Infrastructure Group Forus $2.62 2 4 1 Hold
SPK Spark New Zealand Limited NZX $3.24 1 0 0 Buy
STO Santos Limited $5.13 4 3 0 Buy
SUL Super Retail Group Limited $7.99 6 1 1 Buy
SUN Suncorp Group Limited $14.28 4 2 2 Hold
SYD Sydney Airport Forus $7.42 2 3 1 Hold
TAH Tabcorp Holdings Limited $4.85 3 0 1 Buy
TCL Transurban Group Stapled $12.53 4 3 0 Buy
TLS Telstra Corporation Limited $3.50 4 2 2 Hold
TME Trade Me Group Limited NZX $4.30 2 1 2 Hold
TNE Technology One Limited $5.10 1 2 0 Hold
TPM TPG Telecom Limited $6.04 1 4 3 Hold
TTS Tatts Group Limited $4.30 1 2 1 Hold
TWE Treasury Wine Estates Limited $15.89 2 2 3 Hold
VAH Virgin Australia Holdings Limited $0.29 1 0 3 Sell
VCX Vicinity Centres Stapled $2.79 4 1 1 Buy
VOC Vocus Group Limited $3.14 1 7 0 Hold
VVR Viva Energy Reit Stapled $2.18 2 0 0 Buy
WBC Westpac Banking Corporation $31.17 3 5 0 Hold
WES Wesfarmers Limited $43.92 1 4 3 Hold
WFD Westfield Corporation Stapled $8.41 4 1 1 Buy
WHC Whitehaven Coal Limited $3.92 2 4 2 Hold
WOR Worleyparsons Limited $15.18 4 0 1 Buy
WOW Woolworths Limited $26.85 3 2 3 Hold
WPL Woodside Petroleum Limited $31.39 2 4 2 Hold
WTC Wisetech Global Limited $12.30 1 1 2 Hold
XRO Xero Limited NZX $28.72 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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