Consensus Recommendations (15 November 2019)

Australian analysts cover approximately 450 ASX listed companies.

Unfortunately, when reviewed individually many analysts and stockbrokers have difficulty beating the market average.

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.
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 This leads to outdated consensus data.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:

Publishing broker number: The number of brokers involved in a recommendation is displayed.
• Size Filter: Only the largest 150 companies in our consensus database are listed below. Analysts usually review their recommendation on large companies more often than small-caps.
• Freshness cut-off: Ratings older than 60 days are ignored.

Data Source

Market Index sources data from institutional distributors.

As brokers use several different rating systems, Market Index groups ratings according to a basic 3-tier scale: Buy, Hold and Sell.

Market Index
Broker Rating
"Buy"
Strong Buy, Buy, Accumulate and Outperform.
"Hold"
Hold and Neutral.
"Sell"
Strong Sell, Sell, Reduce and Underperform.

How is the “Consensus” figure derived?

Rating
Score
Strong Buy
2.7+
Buy
2.69 - 2.2
Hold
2.19 - 1.81
Sell
1.80 - 1.50
Strong Sell
1.49 or less

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

Analysts have a bullish bias so cut-off scores aren't evenly spread. The levels are arbitrary and were selected to make skimming the list easier. You can make your own levels using Excel.

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 $12.00 6 4 5 Hold
AGL AGL Energy Limited $19.98 0 7 6 Sell
AIA Auckland Internation Foreign Exempt NZX $8.47 1 1 8 Strong Sell
ALL Aristocrat Leisure $31.15 12 3 1 Buy
ALQ Als Limited $8.22 5 4 1 Buy
ALU Altium Limited $34.03 3 3 0 Buy
ALX Atlas Arteria Stap US Prohibited Excluding QUP $7.81 0 6 2 Sell
AMC Amcor Plc Cdi 1:1 Foreign Exempt NYSE $14.63 6 3 2 Buy
AMP AMP Limited $1.965 1 7 4 Sell
ANN Ansell Limited $29.01 3 8 1 Hold
ANZ ANZ Banking Group Limited $25.32 2 11 3 Hold
APE AP Eagers Limited $10.90 5 3 1 Buy
APT Afterpay Touch $31.57 9 1 2 Buy
APX Appen Limited $22.97 4 4 0 Buy
ARB ARB Corporation $19.44 3 4 1 Hold
ASB Austal Limited $4.46 2 5 0 Hold
AST Ausnet Services Limited $1.825 1 7 2 Hold
ASX ASX Limited $80.63 0 3 9 Strong Sell
AVH Avita Medical Limited $0.59 3 0 0 Strong Buy
AVN Aventus Group FP Ordinary/Units Stapled Securities $2.81 2 2 1 Hold
AWC Alumina Limited $2.47 4 3 5 Hold
BAP Bapcor Limited $7.27 5 2 0 Strong Buy
BHP BHP Group Limited $36.81 5 11 2 Hold
BIN Bingo Industries Limited $2.82 4 4 0 Buy
BKL Blackmores Limited $80.92 1 5 5 Sell
BKW Brickworks Limited $18.29 1 3 1 Hold
BLD Boral Limited $4.95 2 6 1 Hold
BOQ Bank of Queensland $8.57 1 3 12 Strong Sell
BPT Beach Energy Limited $2.35 2 10 3 Hold
BRG Breville Group Limited $17.50 0 3 4 Strong Sell
BSL Bluescope Steel Limited $14.53 3 7 1 Hold
BXB Brambles Limited $12.29 3 8 0 Hold
CAR Carsales.com Limited $15.90 6 6 3 Hold
CBA Commonwealth Bank $79.77 1 6 9 Sell
CDA Codan Limited $6.38 1 2 0 Buy
CGF Challenger Limited $7.95 3 9 2 Hold
CIM Cimic Group Limited $33.94 0 6 0 Hold
CIP Centuria I REIT Ordinary Units FP $3.49 1 4 0 Hold
CKF Collins Foods Limited $9.69 2 2 0 Buy
CLW CHTR H LWR FP Units Stapled Securities $5.39 2 1 1 Hold
CMA Centuria Metro REIT Ordinary Units FP $3.10 0 4 0 Hold
COH Cochlear Limited $222.61 1 7 7 Sell
CPU Computershare Limited $16.59 5 5 2 Hold
CQR Charter Hall Retail Units FP $4.42 0 6 3 Sell
CRN Coronado Global Res Cdi 10:1 US Prohibited Excluding QIB $2.20 6 2 0 Strong Buy
CSL CSL Limited $269.67 10 3 1 Buy
CSR CSR Limited $4.66 1 2 8 Strong Sell
CTD Corp Travel Limited $19.77 7 1 1 Buy
CTX Caltex Australia $28.10 9 5 1 Buy
CUV Clinuvel Pharmaceut $29.90 0 1 0 Hold
CWN Crown Resorts Limited $12.57 3 9 0 Hold
CWY Cleanaway Waste Limited $1.885 5 4 0 Buy
DHG Domain Holdings Aus $3.36 4 5 2 Hold
DMP Domino PIZZA Enterpr $52.11 3 7 2 Hold
DXS Dexus FP Units Stapled Securities $11.68 1 4 4 Sell
EVN Evolution Mining Limited $3.98 2 9 4 Hold
EVT Event Hospitality $13.33 2 4 0 Buy
FLT Flight Centre Travel $41.18 5 10 0 Buy
FMG Fortescue Metals Group $8.73 4 9 9 Sell
FPH Fisher & Paykel H Foreign Exempt NZX $19.72 1 4 7 Sell
GMA Genworth Mortgage $3.87 0 2 1 Sell
GMG Goodman Group FP Ordinary/Units Stapled Securities $14.48 6 1 3 Hold
GNC Graincorp Limited Class A $7.73 2 4 0 Buy
GPT GPT Group FP Ordinary/Units Stapled Securities $6.00 0 7 3 Sell
HLS Healius $3.19 5 5 1 Buy
HVN Harvey Norman $4.21 0 6 4 Sell
IAG Insurance Australia $7.83 2 8 2 Hold
IFL IOOF Holdings Limited $7.66 3 6 1 Hold
IGO Independence Group $6.28 7 5 3 Hold
ILU Iluka Resources $9.03 1 9 0 Hold
INA Ingenia Group FP Ordinary/Units Stapled Securities $4.39 1 1 0 Buy
IPH IPH Limited $8.19 1 5 0 Hold
IPL Incitec Pivot $3.43 4 5 3 Hold
JBH JB Hi-Fi Limited $36.48 2 7 5 Sell
JHG Janus Henderson Chess Depositary Interests 1:1 $36.20 1 6 4 Sell
JHX James Hardie Indust Chess Depositary Interests 1:1 $28.85 9 0 3 Buy
JIN Jumbo Interactive $21.02 2 1 1 Hold
LLC Lendlease Group FP Ordinary/Units Stapled Securities $19.22 7 2 0 Strong Buy
LOV Lovisa Holdings Limited $13.00 5 2 0 Strong Buy
LYC Lynas Corporation $2.32 3 0 0 Strong Buy
MFG Magellan Fin Group Limited $49.83 0 2 10 Strong Sell
MGR Mirvac Group FP Ordinary/Units Stapled Securities $3.24 2 2 4 Sell
MIN Mineral Resources $14.45 5 0 0 Strong Buy
MP1 Megaport Limited $8.67 5 2 0 Strong Buy
MPL Medibank Private Limited $3.16 2 5 5 Sell
MQG Macquarie Group Limited $136.89 8 6 0 Buy
NAB National Aust. Bank $27.80 7 5 3 Hold
NCM Newcrest Mining $31.11 2 7 7 Sell
NEC Nine Entertainment $1.715 8 1 0 Strong Buy
NHC New Hope Corporation $2.17 4 1 1 Buy
NHF Nib Holdings Limited $6.87 1 4 6 Sell
NSR National Storage FP Ordinary/Units Stapled Securities $1.90 1 3 3 Sell
NST Northern Star $9.21 5 9 2 Hold
NUF Nufarm Limited $6.15 6 4 0 Buy
NWL Netwealth Group $8.97 1 5 5 Sell
NXT NEXTDC Limited $6.66 10 1 0 Strong Buy
ORA Orora Limited $3.29 3 7 0 Hold
ORG Origin Energy $8.19 9 4 0 Buy
ORI Orica Limited $23.35 1 7 3 Hold
OSH Oil Search Limited 10 Toea $7.33 8 7 1 Buy
OZL OZ Minerals $10.40 8 6 2 Buy
PDL Pendal Group Limited $8.08 5 7 2 Hold
PMV Premier Investments $19.69 5 3 3 Hold
PNV Polynovo Limited $2.19 1 1 1 Hold
PPT Perpetual Limited $39.25 0 9 3 Sell
PTM Platinum Asset $4.37 0 4 7 Strong Sell
QAN Qantas Airways $6.85 5 4 1 Buy
QBE QBE Insurance Group $12.54 6 5 1 Buy
QUB QUBE Holdings Limited $3.35 2 4 4 Hold
REA REA Group $102.69 3 5 4 Hold
REH Reece Limited $10.35 2 2 0 Buy
RHC Ramsay Health Care $72.41 4 8 2 Hold
RMD Resmed Inc Cdi 10:1 Foreign Exempt NYSE $21.46 7 2 3 Buy
RRL Regis Resources $4.59 6 5 4 Hold
S32 SOUTH32 Limited $2.70 8 15 1 Hold
SAR Saracen Mineral $3.29 4 4 2 Hold
SBM ST Barbara Limited $2.56 6 2 1 Buy
SCG Scentre Group FP Ordinary/Units Stapled Securities $3.90 3 3 3 Hold
SCP Sca Property Group FP Units Stapled Securities $2.68 1 4 4 Sell
SDF Steadfast Group Limited $3.60 5 2 0 Strong Buy
SEK Seek Limited $22.71 6 6 0 Buy
SFR Sandfire Resources $5.87 5 10 1 Hold
SGM Sims Metal MGMT Limited $10.68 3 4 3 Hold
SGP Stockland FP Ordinary/Units Stapled Securities $4.94 2 3 4 Sell
SGR The Star Ent Group $4.73 10 1 1 Strong Buy
SHL Sonic Healthcare $29.27 3 9 1 Hold
SKI Spark Infrastructure Stapled $0.65 Loan Note and Unit US Prohib $2.05 1 6 3 Hold
SM1 Synlait Milk Limited Foreign Exempt NZX $8.61 3 3 2 Hold
SOL Soul Pattinson (W.H) $22.93 1 0 1 Hold
STO Santos Limited $8.12 8 8 1 Buy
SUL Super Ret Rep Limited $9.97 8 3 1 Buy
SUNDC Suncorp Group Limited Deferred Settlement $13.46 6 2 4 Hold
TAH Tabcorp Holdings Limited $4.79 3 7 3 Hold
TCL Transurban Group FP Ordinary/Units Stapled Securities $15.01 1 7 5 Sell
TNE Technology One $7.94 1 4 2 Hold
TPM TPG Telecom Limited $6.71 2 6 3 Hold
TWE Treasury Wine Estate $18.53 10 2 3 Buy
URW Unibailrodawestfield Cdi 20:1 Foreign Exempt Xpar $11.60 1 3 0 Hold
VCX Vicinity Centres FP Ordinary/Units Stapled Securities $2.63 1 6 2 Hold
VEA Viva Energy Group $2.16 8 4 0 Buy
VOC Vocus Group Limited $3.35 3 9 1 Hold
WBC Westpac Banking Corp $26.57 2 10 4 Hold
WES Wesfarmers Limited $41.16 0 7 7 Sell
WHC Whitehaven Coal $3.15 11 4 2 Buy
WOR Worley Limited $14.09 9 1 1 Strong Buy
WOW Woolworths Group Limited $38.72 2 5 6 Sell
WPL Woodside Petroleum $33.82 9 7 1 Buy
WTC Wisetech Global Limited $28.63 5 3 2 Hold
XRO Xero Limited $77.65 9 2 4 Buy
YAL Yancoal Aust Limited $2.97 1 1 0 Buy

NOTE: Share prices as at previous close. 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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