##{"id":59828,"date":"2012-04-20T11:22:15","date_gmt":"2012-04-20T01:22:15","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/04\/20\/icarus-signal-new-entries-for-today-93\/"},"modified":"2012-04-20T11:22:15","modified_gmt":"2012-04-20T01:22:15","slug":"icarus-signal-new-entries-for-today-93","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/04\/20\/icarus-signal-new-entries-for-today-93\/","title":{"rendered":"Icarus Signal New Entries For Today"},"content":{"rendered":"

\n\tUpdate on share prices and consensus price targets.<\/p>\n

\n\tBy Rudi Filapek-Vandyck<\/p>\n

\n\tMajor banks in Australia are back on Icarus' radar with ANZ Bank ((ANZ)) trading above consensus target, CommBank ((CBA)) dangerously close to following ANZ Bank's lead and Westpac ((WBC)) trading within 4% reach of its consensus target. Traditionally, this has always indicated the Australian share market is pushing into valuation limits while overall risk appetite is approaching red hot territory.<\/p>\n

\n\tThis time might be different though. Three of the major four banks in Australia will report their interim results over the coming weeks and this means they will soon after pay out half of their annual dividends. This means, all else being equal, there's about 3% in extra leeway that needs to be accounted for.<\/p>\n

\n\tCorrecting for this dividend payout, the true gap between ANZ Bank and the consensus target is thus still more than 2.5% and for Westpac the gap should be interpreted as more than 7% still. CommBank however, already paid out its interim dividend, but it is not unusual for the shares to trade at a premium, so an extra 3-6% on top of the consensus target wouldn't be uncommon in an historical context (seldom sustainably though).<\/p>\n

\n\tWhat all this does mean, in my view, is that the Australian share market ex-resources is trying to push boundaries. What is needed is pressure relief, in the form of RBA interest rate cuts and international factors, to allow for earnings estimates to rise and for price targets to increase as FY12 draws to an end and the market's focus will shift towards FY13.<\/p>\n

\n\tWhat this also means is that the Australian market needs the underperforming miners and energy stocks to start firing up, other than through major institutions moving their Portfolios to "Neutral" as happened this week, to sustainably revisit higher index levels.<\/p>\n

\n\t\"\"<\/p>\n

\n\tCBA shares join the likes of WorleyParsons ((WOR)), Decmil ((DCG)), Qube Logistics ((QUB)) and Coca-Cola Amatil ((CCL)), plus 40 other companies that are at present trading within 3% of their consensus targets. A further 66, including ANZ Bank and Commonwealth Property Office Fund ((CPA)), Ramsay Healthcare ((RHC)) and Goodman Group ((GMG)) are already trading above target.<\/p>\n

\n\tAll this probably indicates this truly is a stock pickers market and investors better watch valuations against growth projections and dividend support.<\/p>\n

\n\tAll the while the Bottom 50 of the Icarus Signal groups together a colourful selection of metals explorers, biotechs and energy companies, including Alchemia ((ACL)), Ampella Mining ((AMX)), Saracen ((SAR)) and Texon Petroleum ((TXN)). Coal companies are abundantly represented too.<\/p>\n

\n\tInvestors should consider the information and data are provided for research purposes only.<\/p>\n

\n\tStocks <3% Below Consensus<\/h2>\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\t\t\tCurrent Price($)<\/th>\n\n\t\t\t\t\t\t\t\tConsensus Target($)<\/th>\n\n\t\t\t\t\t\t\t\tDifference(%)<\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\t\t\t CBA<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 50.76<\/td>\n\n\t\t\t\t\t\t\t\t$ 50.79<\/td>\n\n\t\t\t\t\t\t\t\t0.06%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\t\t\t CCL<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 12.60<\/td>\n\n\t\t\t\t\t\t\t\t$ 12.91<\/td>\n\n\t\t\t\t\t\t\t\t2.47%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\t\t\t DCG<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 3.11<\/td>\n\n\t\t\t\t\t\t\t\t$ 3.12<\/td>\n\n\t\t\t\t\t\t\t\t0.32%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\t\t\t DML<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.70<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.74<\/td>\n\n\t\t\t\t\t\t\t\t2.35%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\t\t\t DXS<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 0.94<\/td>\n\n\t\t\t\t\t\t\t\t$ 0.97<\/td>\n\n\t\t\t\t\t\t\t\t2.44%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\t\t\t FWD<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 13.22<\/td>\n\n\t\t\t\t\t\t\t\t$ 13.55<\/td>\n\n\t\t\t\t\t\t\t\t2.47%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t7<\/td>\n\n\t\t\t\t\t\t\t\t HIL<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.11<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.14<\/td>\n\n\t\t\t\t\t\t\t\t2.25%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t8<\/td>\n\n\t\t\t\t\t\t\t\t IFL<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 6.14<\/td>\n\n\t\t\t\t\t\t\t\t$ 6.18<\/td>\n\n\t\t\t\t\t\t\t\t0.62%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t9<\/td>\n\n\t\t\t\t\t\t\t\t KMD<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.34<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.36<\/td>\n\n\t\t\t\t\t\t\t\t1.27%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t10<\/td>\n\n\t\t\t\t\t\t\t\t MQG<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 29.17<\/td>\n\n\t\t\t\t\t\t\t\t$ 29.52<\/td>\n\n\t\t\t\t\t\t\t\t1.21%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t11<\/td>\n\n\t\t\t\t\t\t\t\t OST<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.27<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.28<\/td>\n\n\t\t\t\t\t\t\t\t0.79%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t12<\/td>\n\n\t\t\t\t\t\t\t\t PFL<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.75<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.80<\/td>\n\n\t\t\t\t\t\t\t\t2.86%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t13<\/td>\n\n\t\t\t\t\t\t\t\t QUB<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.70<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.75<\/td>\n\n\t\t\t\t\t\t\t\t2.82%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t14<\/td>\n\n\t\t\t\t\t\t\t\t SFR<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 7.92<\/td>\n\n\t\t\t\t\t\t\t\t$ 8.12<\/td>\n\n\t\t\t\t\t\t\t\t2.53%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t15<\/td>\n\n\t\t\t\t\t\t\t\t WOR<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 28.72<\/td>\n\n\t\t\t\t\t\t\t\t$ 28.83<\/td>\n\n\t\t\t\t\t\t\t\t0.40%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\tStocks Above Consensus<\/h2>\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\t\t\tCurrent Price($)<\/th>\n\n\t\t\t\t\t\t\t\tConsensus Target($)<\/th>\n\n\t\t\t\t\t\t\t\tDifference(%)<\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\t\t\t BWP<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.89<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.87<\/td>\n\n\t\t\t\t\t\t\t\t– 0.90%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\t\t\t CPA<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 1.03<\/td>\n\n\t\t\t\t\t\t\t\t$ 1.02<\/td>\n\n\t\t\t\t\t\t\t\t– 0.20%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\t\t\t GMG<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 3.62<\/td>\n\n\t\t\t\t\t\t\t\t$ 0.76<\/td>\n\n\t\t\t\t\t\t\t\t– 79.12%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\t\t\t PLA<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 0.12<\/td>\n\n\t\t\t\t\t\t\t\t$ 0.10<\/td>\n\n\t\t\t\t\t\t\t\t– 13.04%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\t\t\t PRG<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 2.63<\/td>\n\n\t\t\t\t\t\t\t\t$ 2.58<\/td>\n\n\t\t\t\t\t\t\t\t– 1.75%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\t\t\t RHC<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 19.86<\/td>\n\n\t\t\t\t\t\t\t\t$ 19.72<\/td>\n\n\t\t\t\t\t\t\t\t– 0.68%<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t\t\t7<\/td>\n\n\t\t\t\t\t\t\t\t SYD<\/a><\/td>\n\n\t\t\t\t\t\t\t\t$ 2.90<\/td>\n\n\t\t\t\t\t\t\t\t$ 2.86<\/td>\n\n\t\t\t\t\t\t\t\t– 1.21%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\tTop 50 Stocks Furthest from Consensus<\/h2>\n\n\n\n
\n\n\n\n\n\t\t\t\t\t<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\tTo see the full Icarus Signal, please go to this link<\/a><\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/p>\n","protected":false},"excerpt":{"rendered":"

Update on share prices and consensus price targets: Big Four Banks and Resources.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[90,91],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59828"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59828"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59828\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

\n\t\t\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\t\t\tCurrent Price($)<\/th>\n\n\t\t\t\t\t\t\t\tConsensus Target($)<\/th>\n\n\t\t\t\t\t\t\t\tDifference(%)<\/th>\n<\/tr>\n<\/thead>\n