(Bloomberg) -- Here's the key data points to know as Australia's earnings season kicks off:
Stocks With the Most Room to Move
Australia's benchmark index reached a decade high earlier this year, yet analysts are expecting further gains over the coming 12 months. The ASX 200 is seen rising 3.3 percent over the period, according to data compiled by Bloomberg, based on analyst estimates.
Here are the 5 stocks which have the most upside potential, based on analyst estimates, and those with the most downside risk:
- Here are the Top 10 stocks with the highest price target for next 12 months:
- CSL - A$196.81
- Cochlear - A$178.76
- Blackmores - A$130.67
- Macquarie Group - A$124.89
- REA Group - A$86.32
- Rio Tinto - A$82.58
- Commonwealth Bank - A$76.53
- Ramsay Health - A$63.20
- Flight Centre - A$56.04
- ASX - A$57.19
Where the Bears Are
Short interest on the ASX 200 has held largely unchanged through most of 2018 at ~2 percent of the index on a weighted basis. Consumer discretionary stocks are among the most shorted as a percentage of equity float.
- Here are the top 5 stocks with the biggest gain in short interest over the past year among most shorted stocks on ASX 200:
- Afterpay Touch
- Nufarm
- Graincorp
- Technology One
- Wisetech
- Top 5 stocks with biggest decrease in short interest over past year among most shorted:
- Corporate Travel Management
- Automotive Holdings
- Ardent Leisure
- Independence Group
- Mayne Pharma
- Top 5 stocks with most buy ratings
- Fortescue Metals
- Orocobre
- National Australia Bank
- BHP Billiton
- OZ Minerals
- Top 5 stocks with most sell ratings
- ASX
- Primary Health
- Regis Resources
- Beach Energy
- Coca-Cola Amatil
- Stocks with >5 buys and 0 sells
- Automotive Holdings
- Amcor
- Afterpay Touch
- APA Group
- Ausdrill
- Credit Corp
- Corporate Travel
- Eclipx Group
- G8 Education
- Galaxy Resources
- LendLease
- Link Administration
- Macquarie Group
- Origin Energy
- Pendal Group
- Pact Group
- Pilbara Minerals
- Resolute Mining
- Speedcast
- Star Entertainment
- Smartgroup
- Super Retail
- Seven Group
- Syrah Resources
- Webjet
- Stocks with >5 sells and 0 buys
- ASX
- Cochlear
- Here is the stock with the highest forward 12-month P/E multiple in each sector on the ASX 200
- Consumer discretionary -- IDP Education 46.6x
- Consumer staples -- A2 Milk 41.3x
- Energy -- Worleyparsons 28.2x
- Financials -- ASX 27.6x
- Healthcare -- Nanosonics 551.7x
- Industrials -- Transurban 55x
- Information Technology -- Xero 613x
- Materials -- Independence Group 49.1x
- Real Estate -- Goodman Group 21.3x
- Telecommunications -- Chorus 21.4x
- Utilities -- APA Group 43.7x
Biggest Movers This Year
Finally, we look at which stocks have had the biggest shift in share price since the start of 2018, with the index boosted by new arrivals on the technology front, while being weighed down by companies touched by poor earnings guidance and reputation damage.
To contact the reporter on this story: Tim Smith in Sydney at tsmith58@bloomberg.net
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Tim Smith, Rebecca Jones
©2018 Bloomberg L.P.
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What the Investors Think
Investors have the most faith in the outlook for technology and healthcare stock earnings, with the forward 12-month price/earnings ratio at its highest among those sectors.
What the Analysts Think
Analysts have shifted to a more positive footing on the ASX 200 in the past 6 months, with the total number of buy and hold ratings increasing, while sell ratings declined.
