MIDCAP-Indonesia Bayan Resources leads on earnings downgrades

Thu Jun 21, 2012 3:13am EDT

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Indonesian miner Bayan Resources tops the list of earnings downgrades among 81 stocks in the country, data from Thomson Reuters shows.

The data includes stocks tracked by at least three analysts.

Over the past month, analysts have cut EPS estimates on the firm by 28.2 percent for the year ending 2012.

The company has low Analyst Revision Model and SmartHolding scores of 10 and 14 respectively.

The stock's forward PE is at 24.9, compared to a peer average of 8.3.

All three analysts tracking the stock give it sell ratings.

The stock is down nearly 13 percent over the past month, while the sectoral index is down 8 percent for the same period, as of Wednesday's close.

CONTEXT:

StarMine's Analyst Revision Model ranks stocks based on analysts' revision of earnings and revenue estimates and changes in their ratings and usually gives additional weight to analysts who have been more accurate in the past.

StarMine's SmartHoldings model is a global stock selection model that ranks stocks based on expected future increase or decrease in institutional ownership. (Reporting By Patturaja Murugaboopathy; Editing by Sunil Nair)

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