Icarus Signal New Entries For Today

This story features TABCORP HOLDINGS LIMITED, and other companies. For more info SHARE ANALYSIS: TAH

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

FNArena's Icarus Signal continues to be dominated by mining services providers and by solid yield stocks, perpetually switching between trading above target and below. My suspicion is that both Tabcorp ((TAH)) and Treasury Wine Estates ((TWE)) are enjoying the guilty by suspicion trade in the wake of SABMiller's take-over approach to the Foster's ((FGL)) board.

One newcomer amongst the stocks trading close to target is general insurance broker Austbrokers ((AUB)) and I have no clue as to why. The Austbrokers share price has been here before, and was firmly rejected. There's hardly a case for dividends and the growth outlook is not looking spectacular either. Trading on a Price-Earnings multiple above 15 with 10% growth coming in FY12 (after some projected 25% for this year to June) this seems hardly the stuff superstar stocks are made of. Dividend yield is in between 3.8-4.3% which is below market average.

On my metrics Austbrokers shares look fully valued, and that is exactly what the Icarus Signal is indicating too. So what gives?

Engineering minnow GR Engineering ((GRG)) fell back below target, where it joins Spark Infra ((SKI)), Metcash ((MTS)), TWE and the above mentioned Austbrokers.

There are now 16 stocks trading in the vicinity of their consensus target, 24 stocks are trading above target, including newcomers Campbell Bros ((CPB)), Australian Pipeline Trust ((APA)), DuluxGroup ((DLX)), Tabcorp and Foster's. The first four of these names are bound to return to the group below target (at some point), the latter is poised to disappear from the stock exchange in due course.

Investors should consider the information and data are provided for research purposes only.

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 AUB $ 6.47 $ 6.57 1.55% 2 GNG $ 1.92 $ 1.94 1.04% 3 MTS $ 4.08 $ 4.19 2.70% 4 SKI $ 1.28 $ 1.31 2.42% 5 TWE $ 3.45 $ 3.50 1.45%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 APA $ 4.36 $ 4.33 – 0.69% 2 CPB $ 46.21 $ 46.04 – 0.38% 3 DLX $ 2.96 $ 2.93 – 1.11% 4 FGL $ 5.14 $ 4.78 – 6.93% 5 TAH $ 3.17 $ 3.11 – 1.89%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 IVA $ 2.74 $ 4.40 60.58% 2 NFE $ 1.75 $ 2.85 62.86%

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