UNVEILING OF IRAN CONSENSUS REPORT (IRAN CR)
Iran Consensus Report (Iran CR) was unveiled on August 1st 2018, at a conference with participation of Hussein Abdoh Tabrizi, member of Iranian Securities and Exchange Commission, and Roohola Hosseini Moghadam, deputy of the Tehran Stock Exchange.
Since January 2017, public companies are no longer required to publish their next year’s profit forecast. Iran CR is a consolidation of capital market analysts’ opinions on the year-end and seasonal earnings forecast, income margin and several other key indicators for a selection of 60 stocks.
At the conference, Hosseini Moghaddam highlighted the launch of Iran CR will deepen the analysis available on the markets and said: “Currently, the presence of analysts in the capital markets and their understanding of them has increased and we expect to see more analysts meetings, in order to further promote the transparency”.
He mentioned “In developed countries, such meetings are being held several times a year and investors usually discuss information made available by issuers. Credible financial firms all around the world frequently publish analysts’ consensus report on earnings”.
Later on, Majid Zamani, Chief Executive Officer of Kian Capital Management, referred to the functions of Iran CR: “The platform allows access to net profit forecasting, as well as changes in analysts’ estimates comparing to their latest projections”.
He added: “Iran CR is prepared through participation of brokerage firms, investment banks, investment advisors, portfolio managers and independent analysts. Moreover, there is a committee held quarterly to take required decisions on methodology of reporting, stocks selection, and the instructions for participation in the report”.
According to the participants of Iran CR, the consensus is only reflecting the average opinions of the market analysts on the profitability of the selected companies, which does not declare any sale or purchase offer.
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