EstimatesOnDemand The EstimatesOnDemand factlet provides access to FactSet sourced company level estimates data. FACTSET ESTIMATES FactSet Estimates provides consensus- and detail-level estimates and statistics from leading investment banks and research firms. With over 780 contributing brokers globally, FactSet Estimates covers more than 16,300 active global companies and 100 data items. Categories of data include sector specific items, commodity estimates, EPS, DPS, guidance and more. Global scope of companies covered is approximately 31% from North America, 27% from Europe, and 35% from Asia. Historical information is available from 1997 for European companies and 2000 for companies in the Americas and Asia. The manner in which contributed content is displayed and available on FactSet for individual users and user groups is ultimately determined by the contributing partner. With regard to Estimates data several of FactSet brokerage partners have asked that their data be "restricted". In the case of "restricted" broker status, clients can request that the broker considers allowing greater entitlements and/or greater access to their supplied data on FactSet. For more information regarding the FactSet Estimates database refer to Online Assistant page 13369. For a list of active brokers available in FactSet Estimates refer to Online Assistant page 14706. Datadirect_support@factset.com (1) Copyright 2014 FactSet Research Systems Inc. All rights
General Inputs for EstimatesOnDemand ids items Report Start end fiscalperiod periodtype Fields timestamp reportdate Display previousdates one or more securities ;ie ids=msft,wmt;id column is displayed in the first column by default as fdspermsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId Data item from the FactSet Estimates database (e.g., EPS, Sales, Net Debt). Note: Table 1 in Appendix has a comprehensive list of items for which estimates are available using this function.. Not necessary for report=consensusreco; Allows specification of the types of estimates report through which the data is retrieved. The available reports as Actuals, BrokerDetail, BrokerSnapshot, Consensus, Guidance, Surprise, and ConsnsusReco;ie report=consensus The date as of which the estimate data is retrieved. A Date can be entered as NOW, MM/DD/YYYY and YYYYMMDD. Only a single date can be entered in this field. The date as of which the estimate data is retrieved. A Date can be entered as NOW, MM/DD/YYYY and YYYYMMDD. Only a single date can be entered in this field. The fiscal period for the estimate item. The option is available of looking at historical, current, or future fiscal periods. The fiscal period can be specified using relative dates. The arguments entered as relative dates represent a date relative to the most recently updated period. For example, 0 (zero) represents the most recently reported period; -1 represents the time period prior to the most recently reported period. Arguments entered can be -1, 0, 1, 2, etc. The argument can be entered as annual, quarterly, or semi, depending on the type of estimates data request. Not all equities have estimates for all period types. This optional argument allows for specification of a select number of fields to extract. Note: Each section provides a detailed list of the output fields associated with each FactSet Estimates report. Default = N;The optional parameter to display the publication time associated with the publication date. The argument would be set up as: timestamp=y. This can be used only in the following reports:actuals,consensus,surprise, and Guidance. Default=N;The optional argument to display report date. The argument would be set up as: reportdate=y and can be used with the following reports: BrokerDetail, BrokerSnapshot, Consensus, Actuals, and Surprise The optional argument is used with the Broker Detail report. If utilizing HISTO for the historical look an end date argument must be entered. If utilizing the SNAP mode, an end date parameter is not needed unless looking for the current consensus less than 100 days old. Otherwise SNAP will bring back the current consensus as of the last 100 days. This optional argument is used with the Consensus report and refers to previous date as of which estimates can be retrieved and compared to the Datadirect_support@factset.com (2) Copyright 2014 FactSet Research Systems Inc. All rights
Prev statistic Offset1/offset2 Currency secid Broker estimates retrieved as of the date argument. For example, if EPS estimates are displayed as of now, allows clients to compare the EPS estimates as of i.e. 30 days ago. If the previousdates argument is used the fields and prev should be appended This optional argument is used with the Surprise report. There are a number of different statistics that the client can bring back using the Surprise Report. They have the ability to specify which one they prefer. The list includes: Mean, Median (MED), High Estimate (HIGH), Low Estimate (LOW), Sigma and Standard Deviation (STDDEV). This optional argument is used with the Surprise report. This parameter is to change the number of days used before and after the report date to calculate price impact. The argument would be set up as: offset1=1, offset2=2'. The optional parameter allows all values to be changed to the specified currency. By default, the currency is the value of the security. Default:secId=n ; secid=y displays the id column with the same identifier(cusip,sedol,ticker, etc) instead of FDSPERMSECID; Column header will be labeled SecId Used by report=brokerdetail or report=brokersnapshot to display instances of only 1 broker; ie broker=1140 Datadirect_support@factset.com (3) Copyright 2014 FactSet Research Systems Inc. All rights
FQL Date Format - Relative Dates Relative dates represent a date relative to the most recently updated period. For example, 0 (zero) represents the most recently updated period; -1 represents the time period prior to the most recently updated. The zero date is determined by the default time period or the natural frequency of the data being requested. Zero (0) when used with monthly data indicates the most recent month end. Negative one (-1) when used with annual data indicates one fiscal year prior to the most recently updated fiscal year. List of Relative Date Arguments: D 0D is the most recent trading day, -1D is one trading day prior. AW 0AW is the most recent trading day, -1AW is the one actual week (7 days) prior to the most recent trading day. W 0W is the last day of the most recent trading week (usually Friday), -1W is the last trading day of the prior week. AM 0AM is the most recent trading day, -1AM is the same day, one actual month prior. M 0M is the last trading day of the most recent month, -1M is the last trading day of the prior month. AQ 0AQ is the most recent trading day, -1AQ is the same day 3 months prior Datadirect_support@factset.com (4) Copyright 2014 FactSet Research Systems Inc. All rights
Q 0Q is the last trading day of the company s most recent fiscal quarter, -1Q is the last day of the prior fiscal quarter. CQ 0CQ is the last trading day of the most recent calendar quarter (March, June, September, or December), -1CQ is the last trading day of the prior calendar quarter. AY 0AY is the most recent trading day, -1AY is one actual year (365 days) prior Y CY 0Y is the last trading day of the company s most recent fiscal year, -1Y is the last trading day of the prior fiscal year. 0CY is the last trading day of the most recent calendar year (the last trading day in December), -1CY is the last trading day of the prior calendar year. Datadirect_support@factset.com (5) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT - ACTUALS ACTUALS METHODOLOGY The Actuals factlet provides access to the income statement, balance sheet, cash flow statement and per share data for all companies covered by FactSet Estimates as well as the median value of the post-event consensus, known as the Broker Actual. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The data extracted by this factlet is accessible by using other factlets such as ExtractFormulaHistory and ExtractDataSnapshot, but the value added of this function is that the default output includes a more comprehensive overview of the estimate actuals value, date and a flag explaining from where the actuals value is extracted. This default output would entail making multiple requests using the other factlets. Estimates are data points representing information about a future period: FY1, or FQ1, and beyond. Actuals are data points representing information about the past: FY0, FQ0, or earlier. Datadirect_support@factset.com (6) Copyright 2014 FactSet Research Systems Inc. All rights
An "Actual" can have two forms: The value collected directly from the company s income statement, balance sheet, cash flow statement, known as the Actual. The median value of the post-event consensus, known as the Broker Actual. o Mean can be used to calculate Broker Actual if desired. o The Broker Actual is the default value for the European zone, even if an Actual is present. FactSet Estimates actuals data is collected through a variety of channels, but the primary source is financial statements published by the company. For the U.S., European, and Japanese sources mentioned below, FactSet collects earnings announcements as soon as the data is made available to these news services. Depending on local regulations, this can be anywhere from one to six months after the end of the fiscal period. Datadirect_support@factset.com (7) Copyright 2014 FactSet Research Systems Inc. All rights
These sources include: U.S. Companies: CallStreet Transcripts PR Newswire Business Wire CCN Matthews GlobeNewswire Market Wire CallStreet For European Companies: Financial Express Company Announcements Europe PR Newswire Hugin Southern Europe Hugin Europe Business Wire For Japanese Companies: TDNet Datadirect_support@factset.com (8) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE ACTUALS REPORT The following table provides a detailed description of each of the 9 data fields that are by default retrieved when using the FactSet Estimates Actuals Report Field Name FS_PERM_SEC_ID currency FE_ITEM FE_PER_REL FE_REPORT_FY PUBDATE Date FE_ACTUAL FE_ACTUAL_FLAG Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The currency in which the selected estimate actual item is displayed. The estimates actual item that is being retrieved, i.e. EPS. The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. The actual report date. The date when the company actually release their data. The period ending date. The actual value. The Flag for the actual report type being retrieved. 1 is returned if an actual is available outside of Europe (U.S., Canada, Latin America, Asia/Pacific, and Australia). Note: This is not a broker actual. 2 is returned if a European actual is available. Note: This is not a broker actual. 3 is returned if the data is a broker actual (consensus coverage). Datadirect_support@factset.com (9) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, retrieve for Microsoft the EPS and sales actuals as of now for the current reported fiscal year that the company is in (denoted with the fiscal period 0 argument in the request syntax below) and the values for the fiscal year before that (denoted with the -1 fiscal period argument). factlet=estimatesondemand&id=msft&items=eps,sales &start_date=now&report=actuals&format=pipe&fiscalp eriod=-1,0&periodtype=annual Output: DF3K29-S-US USD EPS -1 20-Jul-2012 19-Jul-2012 30-Jun- 2012 2.77999997139 1 DF3K29-S-US USD EPS 0 19-Jul-2013 18-Jul-2013 30-Jun- 2013 2.579999923706 1 DF3K29-S-US USD SALES -1 20-Jul-2012 19-Jul-2012 30- Jun-2012 73723. 1 DF3K29-S-US USD SALES 0 19-Jul-2013 18-Jul-2013 30- Jun-2013 77849. 1 Note: The FE_ACTUAL_FLAG column returns a 1 flag for all of the actuals and the 1 is returned if an actual is available outside of Europe (U.S., Canada, Latin America, Asia/Pacific, and Australia). This is not a broker actual. Datadirect_support@factset.com (10) Copyright 2014 FactSet Research Systems Inc. All rights
Note: By default the id column returns the ids= column as the fdspermsecid. If you would like to return the same identifier(cusip,sedol,ticker, etc) in that column, use secid=y factlet=estimatesondemand&id=msft&items=eps,sales &start=now&report=actuals&format=pipe&fiscalperiod= -1,0&periodtype=annual&secid=y Output: MSFT USD EPS -1 20-Jul-2012 19-Jul-2012 30-Jun- 2012 2.77999997139 1 MSFT USD EPS 0 19-Jul-2013 18-Jul-2013 30-Jun- 2013 2.579999923706 1 MSFT USD SALES -1 20-Jul-2012 19-Jul-2012 30-Jun- 2012 73723. 1 MSFT USD SALES 0 19-Jul-2013 18-Jul-2013 30-Jun- 2013 77849. 1 Datadirect_support@factset.com (11) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve for Microsoft and IBM the EPS and sales actuals as of now for the current reported fiscal year that the companies are in (denoted with the fiscal period 0 argument in the request syntax below) and the values for the fiscal year before that (denoted with the -1 fiscal period argument). factlet=estimatesondemand&id=msft,ibm&items=eps,sa les&start=now&report=actuals&format=pipe&fiscalperi od=-1,0&periodtype=annual Output: DF3K29-S-US USD EPS -1 20-Jul-2012 19-Jul-2012 30-Jun- 2012 2.77999997139 1 DF3K29-S-US USD EPS 0 19-Jul-2013 18-Jul-2013 30-Jun- 2013 2.579999923706 1 DF3K29-S-US USD SALES -1 20-Jul-2012 19-Jul-2012 30- Jun-2012 73723. 1 DF3K29-S-US USD SALES 0 19-Jul-2013 18-Jul-2013 30- Jun-2013 77849. 1 MCPQD9-S-US USD EPS -1 23-Jan-2013 22-Jan-2013 31- Dec-2012 15.25 1 MCPQD9-S-US USD EPS 0 22-Jan-2014 21-Jan-2014 31- Dec-2013 16.989999771118 1 MCPQD9-S-US USD SALES -1 23-Jan-2013 22-Jan- 2013 31-Dec-2012 104507. 1 MCPQD9-S-US USD SALES 0 22-Jan-2014 21-Jan- 2014 31-Dec-2013 99751. 1 Datadirect_support@factset.com (12) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve for Exxon Mobile the EPS and sales actuals as of 12/31/2010 for the current reported fiscal quarter that the company was in as of that point in time (denoted with the fiscal period 0 argument in the request syntax below) and the values for the fiscal quarter before that (denoted with the -1 fiscal period argument). factlet=estimatesondemand&id=xom&items=eps,sales& start=12/31/2010&report=actuals&format=pipe&fiscalperi od=-1,0&periodtype=quarterly_roll Output: HP44R7-S-US USD EPS -1 31-Oct-2013 31-Oct-2013 30- Sep-2013 1.789999961853 1 HP44R7-S-US USD EPS 0 30-Jan-2014 30-Jan-2014 31- Dec-2013 1.909999966621 1 HP44R7-S-US USD SALES -1 31-Oct-2013 31-Oct-2013 30- Sep-2013 112372. 1 HP44R7-S-US USD SALES 0 30-Jan-2014 30-Jan-2014 31- Dec-2013 110860. 1 Datadirect_support@factset.com (13) Copyright 2014 FactSet Research Systems Inc. All rights
Example 4: In this example, retrieve for Exxon Mobil the most recent fiscal year end EPS actuals, e along with the time stamp for the report. factlet=estimatesondemand&id=xom&items=eps&start= 0&report=actuals&format=pipe&fiscalperiod=0&periodty pe=annual×tamp=y Output:(Timestamp is bolded) HP44R7-S-US USD EPS 0 30-Jan-2014 30-Jan- 2014 20140130 05:00:00 AM 31-Dec- 2013 7.369999885559 1 Datadirect_support@factset.com (14) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT BROKER DETAIL The BrokerDetail factlet provides to detail level broker estimates from the FactSet Estimates database. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The data extracted by this report is accessible by using other functions such as ExtractFormulaHistory and ExtractDataSnapshot, but the value added of this function is that the default output includes more comprehensive broker detail information in terms of the Brokers, Analysts and the change from their historical estimates. BROKER DETAIL METHODOLOGY The methodology used with the FactSet Estimates database is to group consensus estimates classes into estimate groups, according to the different accounting methodologies used by various brokers. The default consensus (class 0) regroups estimates according to FactSet Estimates methodology. The goal of FactSet Estimates consensus classes is to identify and exclude brokers that use a different methodology from the default methodology used by FactSet Estimates. A consensus estimate is calculated for one class at a time because creating an average across different classes can be misleading. FactSet Estimates provides a more meaningful consensus estimate figure through the consensus class functionality. For example, in the insurance sector, some brokers make an estimate based on gross premium and others on net premium. If the FactSet Estimates methodology uses net premium as a default, then the estimates of the brokers who use gross premium will belong to a new class of consensus which will be different from the default class. Datadirect_support@factset.com (15) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES BROKERDETAIL REPORT The following table provides a detailed description of each of the 18 data fields that are by default retrieved when using the FactSet Estimates Broker Detail report. Field Name FS_PERM_SEC_ID FE_FP_END CURRENCY FE_ITEM FE_PER_REL DATE FE_BROKER FE_BROKERNAME FE_ANALYST FE_ANALYSTNAME ENTRY_DATETIME FE_ESTIMATE Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The date corresponding to the fiscal period type that is entered. For example, if the arguments entered in the syntax are fiscal period=1 and period type=annual, the relative date is FY1 which is the current unreported fiscal year for the company. The currency in which the selected estimate actual item is displayed. The estimates actual item that is being retrieved, i.e. EPS. The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. The research date for the estimate item. This corresponds to the date of the report issued by a broker. Whenever a broker sends a new estimate or opinion, it is considered a research date. It reflects the date indicated in the actual report issued by the broker, not the date FactSet received it The FactSet Estimates Broker code. For a list of active brokers available in FactSet Estimates and their corresponding codes refer to Online Assistant page 14706. The Broker Name, i.e. Goldman Sachs The code for the analyst. The code is based on a FactSet people map and allows brokers to control readership entitlements. The name of the Analyst making providing the estimate. The entry date of the estimate The detail estimate history from contributing brokers over specified date range for the specified period (i.e. EPS for FY1) Datadirect_support@factset.com (16) Copyright 2014 FactSet Research Systems Inc. All rights
OTHER_CC FE_SECTION FE_STATUS FE_EST_REV_VAL FE_EST_REV_VAL_ARROW FE_EST_REV_VAL_DATE Consensus Class that pertains to a particular estimate. The details of this methodology described in section 2 above. Indicates if according to the default FactSet Estimates consensus methodology the broker is included or excluded from the calculation. Displays exclusion information. Explains the reason for the exclusion (i.e. Dropping Coverage). The previous estimate value from the same analyst, for the same fiscal period. Retrieves a -1, 0, 1 or NA to indicate the direction of the estimate change from the analyst. A -1 indicates that the latest estimate value retrieved with FE_ESTIMATE is lower than the value retrieved with the previous estimate, retrieved with the field FE_EST_REV_VAL. A 0 indicates that there has been no change in the estimate. A 1 indicates that the latest estimate is higher than the previous value from the same analyst. An NA indicates that there was no previous value from that analyst for this security. Retrieves the research date of the previous estimate value that corresponds to FE_EST_REV_VAL. Datadirect_support@factset.com (17) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, retrieve the broker detail history for Earnings per Share (EPS) estimates for Microsoft made over the past year, with the start date being the most recent trading day, which is identified as 0D in the code, and the end date being one actual year ago, which is identified as -1AY. The specified fiscal period is 1, which refers to the current unreported period and when no period type is entered, the default is annual. So the request would be for broker estimate detail history for FY1 EPS, which is for the current unreported fiscal year in the case of Microsoft in this example, FY1 is currently referring to the fiscal year ending on 06/2012. Note: The broker detail output for the EPS estimate includes all available estimates, including ones excluded from the consensus calculation and those contributing to Gaap. Datadirect_support@factset.com (18) Copyright 2014 FactSet Research Systems Inc. All rights
factlet=estimatesondemand&id=msft&items=eps&start =0D&report=brokerdetail&format=pipe&end=- 1AY&fiscalperiod=1 Output: DF3K29-S-US 30-Jun-2013 USD EPS 0 19-Jul- 2013 1772 Evercore Partners 16221 Kirk Materne 19-Jul- 2013 2.660000085831 3 Excluded EPS Actual replace Consensus after publication. Estimate is excluded from Consensus. DF3K29-S-US 30-Jun-2013 USD EPS 0 19-Jul- 2013 548 Stifel Nicolaus 2428 Brad R. Reback 19-Jul- 2013 2.589999914169 0 Excluded EPS Actual replace Consensus after publication. Estimate is excluded from Consensus. DF3K29-S-US 30-Jun-2013 USD EPS 0 19-Jul- 2013 143 Nomura Research 2051 Rick G. Sherlund 19-Jul- 2013 2.589999914169 0 Excluded EPS Actual replace Consensus after publication. Estimate is excluded from Consensus. DF3K29-S-US 30-Jun-2013 USD EPS 0 19-Jul- 2013 77 Deutsche Bank Research 7870 Karl Keirstead 19- Jul-2013 2.589999914169 0 Excluded EPS Actual replace Consensus after publication. Estimate is excluded from Consensus. Datadirect_support@factset.com (19) Copyright 2014 FactSet Research Systems Inc. All rights
Note: Alternatively, it is possible to access the estimates for one broker over this date range by adding the broker code, i.e. Bernstein Research(broker=1140). The comprehensive list of broker codes can be accessed on Online Assistant page 14706. factlet=estimatesondemand&id=msft&items=eps&start =0D&report=brokerdetail&format=pipe&end=- 1AY&fiscalperiod=1&broker=1140 DF3K29-S-US 30-Jun-2013 USD EPS 0 19-Jul- 2013 1140 Bernstein Research 16696 Mark L. Moerdler 19- Jul-2013 2.579999923706 0 Excluded EPS Actual replace Consensus after publication. Estimate is excluded from Consensus. Datadirect_support@factset.com (20) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve the EPS estimates for the current unreported fiscal year (FY1) for two securities, Microsoft and IBM. The broker detail history is from the start date being 0D and end date -1AY. factlet=estimatesondemand&id=msft,ibm&items=eps&s tart_date=0d&report=brokerdetail&format=pipe&end=- 1AY&fiscalperiod=1 Output: DF3K29-S-US 30-Jun-2014 USD EPS 1 21-Feb- 2014 548 Stifel Nicolaus 2428 Brad R. Reback 24-Feb- 2014 2.640000104904 0 Included 2.640000104904 0 21- Feb-2014 DF3K29-S-US 30-Jun-2014 USD EPS 1 19-Feb- 2014 143 Nomura Research 2051 Rick G. Sherlund 20-Feb- 2014 2.609999895096 0 Included 2.55999994278 1 5-Nov- 2013 MCPQD9-S-US 31-Dec-2014 USD EPS 1 21-Feb- 2014 1140 Bernstein Research 20332 Toni M. Sacconaghi 24-Feb-2014 18. 0 Included 18. 0 21-Feb-2014 MCPQD9-S-US 31-Dec-2014 USD EPS 1 21-Feb- 2014 104 Credit Suisse 20682 Kulbinder Garcha 24-Feb- 2014 18. 0 Included 18.450000762939-1 2-Jan-2014 Datadirect_support@factset.com (21) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve the quarterly sales estimates for the second unreported fiscal quarter for Exxon as of now. The start and end dates would be looking at the broker detail estimates history from the end of last year, going back 2 quarters. The displayed broker estimates history is those being made from the end of last year going back 2 quarters from then. Note: Because the start date is the end of last year, the output does not reflect most recent estimates that are available for the company. factlet=factsetestimatesbrokerdetail&id=xom&item=sal es&start_date=0y&end_date=0y- 2Q&fiscalperiod=2&periodtype=quarterly&format=pipe HP44R7-S-US 30-Jun-2014 USD SALES 2 14-Nov- 2013 744 Macquarie Research 0 15-Nov- 2013 Excluded Dropping coverage. 14-Nov-2013 HP44R7-S-US 30-Jun-2014 USD SALES 2 13-Dec- 2013 111 Goldman Sachs 14401 Arjun N. Murti 16-Dec- 2013 99327.5 0 Included 99327.5 0 13-Dec-2013 HP44R7-S-US 30-Jun-2014 USD SALES 2 12-Dec- 2013 125 BofAML 4505 Doug Leggate 12-Dec- 2013 127859. 0 Included 123738. 1 11-Nov-2013 Datadirect_support@factset.com (22) Copyright 2014 FactSet Research Systems Inc. All rights
Example 4: In this example, retrieve the broker detail of quarterly EPS estimates for the current unreported fiscal quarters for Exxon, Statoil and Chevron. But instead of extracting all 18 columns of data at once, by using the fields parameter it s possible to specify a select numbers of columns. The first 5 columns listed in the table in section 3.2 are retrieved by default, but the remaining can be selected. Using the optional fields= argument, display the Analyst Name, the Broker Name, the Estimate and arrow indicating if available the direction of the estimate revision factlet=estimatesondemand&id=xom,stlno,cvx&items=eps&start_date=0d&report=brokerdetail& format=pipe&end=- 2Q&fiscalperiod=1&periodtype=quarterly&fields=FE_AN ALYSTNAME,FE_BROKERNAME,FE_ESTIMATE,FE_EST _REV_VAL_ARROW Output: HP44R7-S-US 31-Mar-2014 USD EPS 1 Paul Cheng Barclays 1.860000014305-1 HP44R7-S-US 31-Mar-2014 USD EPS 1 William A. Featherston UBS 1.91592001915-1 HP44R7-S-US 31-Mar-2014 USD EPS 1 Douglas Terreson ISI Group Inc. 1.850000023842-1 Datadirect_support@factset.com (23) Copyright 2014 FactSet Research Systems Inc. All rights
Example 5: In this example, the estimates detail is to be extracted starting from the end of last calendar year, as indicated with the 0Y argument, going back 2 quarters from then, as indicated by the 0Y-2Q argument in the code. The display mode is set to HISTO, to indicate a historical look of the estimates. Note: When entering the optional display mode argument in the syntax, if utilizing HISTO for the historical look an end date argument must be entered. If utilizing the SNAP mode, an end date parameter is not needed unless looking for the current consensus less than 100 days old. Otherwise SNAP will bring back the current consensus as of the last 100 days. factlet=estimatesondemand&id=xom&items=sales&star t_date=0y&report=brokerdetail&format=pipe&end=0y- 2Q&fiscalperiod=2&periodtype=quarterly&display=histo Output: HP44R7-S-US 30-Jun-2014 USD SALES 2 12-Dec- 2013 125 BofAML 4505 Doug Leggate 12-Dec- 2013 127859. 0 123738. 1 11-Nov-2013 Dropping HP44R7-S-US 30-Jun-2014 USD SALES 2 11-Nov- 2013 125 BofAML 4505 Doug Leggate 11-Nov- 2013 123738. 0 125165. -1 1-Nov-2013 Buy HP44R7-S-US 30-Jun-2014 USD SALES 2 1-Nov- 2013 77 Deutsche Bank Research 16069 Paul Sankey 1- Nov-2013 108971. 0 107544. 1 10-Oct-2013 Overweight Datadirect_support@factset.com (24) Copyright 2014 FactSet Research Systems Inc. All rights
Example 6: In this example, extract the broker detail EPS estimate history for the fiscal year 2007 for the Swedish company AarhusKarlshamn and display the report date. The date range is the first trade date and the consensus estimate report date. Extracting the report date allows for a direct comparison between the date of the estimate and the report date. In order to display the report date the 'reportdate','y' argument must be used. factlet=estimatesondemand&id=aakse&items=eps&start_date=p_first_date&report=brok erdetail&format=pipe&end=fe_estimate_date(rpt_d ATE,EPS,ANNUAL,2007,'YYYYMMDD',NOW,,,'')&fiscalpe riod=2007&periodtype=annual&display=histo&reportdat e=y Output(REPORTDATE IS BOLDED BELOW) VNQ8GS-S-SE 31-Dec-2007 SEK EPS 2007 18-Oct- 2005 21-Feb-2008 120 Danske Bank Markets 12009 Michael West Hybholt 4-Nov-2005 12.300000190735 0 Hold VNQ8GS-S-SE 31-Dec-2007 SEK EPS 2007 3-Feb- 2006 21-Feb-2008 394 ABG Sundal Collier 11232 Claus Almer 4-Feb-2006 12.619799613953 0 Buy VNQ8GS-S-SE 31-Dec-2007 SEK EPS 2007 15-Mar- 2006 21-Feb-2008 288 Swedbank 3751 Mats Larsson 23- Mar-2006 11.679300308228 0 Buy Datadirect_support@factset.com (25) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT BROKER SNAPSHOT The BrokerSnapshot factlet provides access to a historical snapshot of detail level broker estimates from the FactSet Estimates database. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The difference between the BrokerSnapshot and the BrokerDetail reports is that the BrokerSnapshot provides a snapshot only and does not accept a date range, but the snapshot is an annual or quarterly roll argument to look at historical estimates. Estimates on a rolling basis return data for the current unreported fiscal year or quarter as of the date entered. Datadirect_support@factset.com (26) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES BROKER SNAPSHOT REPORT The following table provides a detailed description of each of the 18 data fields that are by default retrieved when using the Broker Snapshot report. Field Name FS_PERM_SEC_ID FE_FP_END CURRENCY FE_ITEM FE_PER_REL DATE FE_BROKER FE_BROKERNAME FE_ANALYST FE_ANALYSTNAME ENTRY_DATETIME Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The date corresponding to the fiscal period type that is entered. For example, if the arguments entered in the syntax are fiscal period=1 and period type=annual, the relative date is FY1 which is the current unreported fiscal year for the company. The currency in which the selected estimate actual item is displayed. The estimates actual item that is being retrieved, i.e. EPS. The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. The research date for the estimate item. This corresponds to the date of the report issued by a broker. Whenever a broker sends a new estimate or opinion, it is considered a research date. It reflects the date indicated in the actual report issued by the broker, not the date FactSet received it The FactSet Estimates Broker code. For a list of active brokers available in FactSet Estimates and their corresponding codes refer to Online Assistant page 14706. The Broker Name, i.e. Goldman Sachs The code for the analyst. The code is based on a FactSet people map and allows brokers to control readership entitlements. The name of the Analyst making providing the estimate. The entry date of the estimate Datadirect_support@factset.com (27) Copyright 2014 FactSet Research Systems Inc. All rights
FE_ESTIMATE OTHER_CC FE_SECTION FE_STATUS FE_EST_REV_VAL FE_EST_REV_VAL_ARROW FE_EST_REV_VAL_DATE The detail estimate history from contributing brokers over specified date range for the specified period (i.e. EPS for FY1) Consensus Class that pertains to a particular estimate. The details of this methodology described in section 2 above. Indicates if according to the default FactSet Estimates consensus methodology the broker is included or excluded from the calculation. Displays exclusion information. Explains the reason for the exclusion (i.e. Dropping Coverage). The previous estimate value from the same analyst, for the same fiscal period. Retrieves a -1, 0, 1 or NA to indicate the direction of the estimate change from the analyst. A -1 indicates that the latest estimate value retrieved with FE_ESTIMATE is lower than the value retrieved with the previous estimate, retrieved with the field FE_EST_REV_VAL. A 0 indicates that there has been no change in the estimate. A 1 indicates that the latest estimate is higher than the previous value from the same analyst. An NA indicates that there was no previous value from that analyst for this security. Retrieves the research date of the previous estimate value that corresponds to FE_EST_REV_VAL. Datadirect_support@factset.com (28) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, retrieve the broker detail history for Earnings per Share (EPS) estimates for Microsoft as of 5 actual years ago. The specified fiscal period is 1, which refers to the current unreported fiscal year, as of 5 years ago. So the request would be for broker estimate detail history for FY1 EPS, which is for the current unreported fiscal year in the case of Microsoft in this example, FY1 as of 5 actual years ago is referring to the fiscal year ending on 06/2009. Note: The broker detail output for the EPS estimate includes all available estimates, including ones excluded from the consensus calculation and those contributing to Gaap. factlet=estimatesondemand&id=msft&items=eps&start_ Date=-5AY&report=brokersnapshot&format=pipe&fiscal period=1&periodtype=annual_roll Datadirect_support@factset.com (29) Copyright 2014 FactSet Research Systems Inc. All rights
Output: DF3K29-S-US 30-Jun-2009 USD EPS 1 22-Jan- 2009 498 Oppenheimer 2428 Brad R. Reback 22-Jan- 2009 1.730000019073 0 Included 1.960000038147-1 15- Jan-2009 DF3K29-S-US 30-Jun-2009 USD EPS 1 12-Feb- 2009 467 Daiwa Securities Co. Ltd. 0 18-Feb- 2009 1.759999990463 0 Included 1.759999990463 0 12- Feb-2009 DF3K29-S-US 30-Jun-2009 USD EPS 1 25-Feb- 2009 917 Cowen & Company 18877 Walter Pritchard 26- Feb-2009 1.823639988899 0 Included 1.77999997139 1 22- Jan-2009 DF3K29-S-US 30-Jun-2009 USD EPS 1 22-Jan- 2009 1122 Collins Stewart 23982 Sandeep Aggarwal 23- Jan-2009 1.789999961853 0 Included 2.019999980927-1 21-Nov-2008 DF3K29-S-US 30-Jun-2009 USD EPS 1 22-Jan- 2009 512 Jefferies 12131 Katherine Egbert 23-Jan- 2009 1.759999990463 0 Included 2.019999980927-1 6- Jan-2009. Note: Alternatively, it is possible to access the estimates for one broker (ie &broker=1140) over this date range by adding the broker code, i.e. Bernstein Research. The comprehensive list of broker codes can be accessed on Online Assistant page 14706. Datadirect_support@factset.com (30) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve the EPS estimates for the current unreported fiscal year (FY1) for two securities, Microsoft and IBM. The broker detail history is as of now for the current unreported fiscal year. When no period type is entered, the default is annual. factlet=estimatesondemand&id=msft,ibm&items=eps&s tart_date=0d&report=brokersnapshot&format=pipe&fisc alperiod=1 Output: DF3K29-S-US 30-Jun-2014 USD EPS 1 21-Feb- 2014 548 Stifel Nicolaus 2428 Brad R. Reback 24-Feb- 2014 2.640000104904 0 Included 2.640000104904 0 21- Feb-2014 DF3K29-S-US 30-Jun-2014 USD EPS 1 19-Feb- 2014 143 Nomura Research 2051 Rick G. Sherlund 20-Feb- 2014 2.609999895096 0 Included 2.55999994278 1 5-Nov- 2013 MCPQD9-S-US 31-Dec-2014 USD EPS 1 21-Feb- 2014 1140 Bernstein Research 20332 Toni M. Sacconaghi 24-Feb-2014 18. 0 Included 18. 0 21-Feb-2014 MCPQD9-S-US 31-Dec-2014 USD EPS 1 21-Feb- 2014 104 Credit Suisse 20682 Kulbinder Garcha 24-Feb- 2014 18. 0 Included 18.450000762939-1 2-Jan-2014 Datadirect_support@factset.com (31) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve the quarterly sales estimates for the second unreported fiscal quarter for Exxon as of three quarters ago. The sales estimate is therefore for the quarter ending 3/31/2013, which is FQ2 as of 12/2012. factlet=estimatesondemand&id=xom&item=sales&start _Date=2Q&report=brokersnapshot&format=pipe&fiscalp eriod=2&periodtype=quarterly_roll Output: HP44R7-S-US 30-Sep-2013 USD SALES 2 14-Jun- 2013 512 Jefferies 3352 Iain Reid 17-Jun- 2013 1.94000005722 0 Included 1.909999966621 1 25-Apr- 2013 HP44R7-S-US 30-Sep-2013 USD SALES 2 28-Jun- 2013 498 Oppenheimer 7699 Fadel Gheit 29-Jun- 2013 1.860000014305 0 Included 1.929999947548-1 31- May-2013 HP44R7-S-US 30-Sep-2013 USD SALES 2 28-Jun- 2013 125 BofAML 4505 Doug Leggate 28-Jun- 2013 1.94000005722 0 Included 1.97000002861-1 29-May- 2013 HP44R7-S-US 30-Sep-2013 USD SALES 2 25-Apr- 2013 6 JP Morgan 23242 Katherine Lucas Minyard 25-Apr- 2013 1.820000052452 0 Included 1.840000033379-1 12- Apr-2013 Datadirect_support@factset.com (32) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT CONSENSUS The Consensus report provides access to consensus level estimates from the FactSet Estimates database. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The data extracted by this report is accessible by using other functions such as ExtractFormulaHistory and ExtractDataSnapshot, but the value added of this function is that the default output includes more comprehensive consensus information in terms of the mean, median, high, low and standard deviation of estimates. This default output would entail making multiple requests using the other functions. CONSENSUS METHODOLOGY The methodology used with the FactSet Estimates database is to group consensus estimates classes into estimate groups, according to the different accounting methodologies used by various brokers. The default consensus (class 0) regroups estimates according to FactSet Estimates methodology. The goal of FactSet Estimates consensus classes is to identify and exclude brokers that use a different methodology from the default methodology used by FactSet Estimates. A consensus estimate is calculated for one class at a time because creating an average across different classes can be misleading. FactSet Estimates provides a more meaningful consensus estimate figure through the consensus class functionality. For example, in the insurance sector, some brokers make an estimate based on gross premium and others on net premium. Datadirect_support@factset.com (33) Copyright 2014 FactSet Research Systems Inc. All rights
If the FactSet Estimates methodology uses net premium as a default, then the estimates of the brokers who use gross premium will belong to a new class of consensus which will be different from the default class. Broker estimates can be received and processed in a multitude of formats of the brokers choosing. The main two types of formats are manual contribution and automatic contribution. FactSet Estimates does not make or alter estimates received from contributors, but does however, convert currency (i.e., USD to EUR) and convert units (i.e., KM to Miles, Cubic feet to Barrels of Oil (BOE), etc.) when appropriate. The consensus window refers to the time period associated with estimates used in the consensus. By default, consensus estimates calculated by FactSet are based on estimates that have been validated via broker research within the past 100 days. When an estimate does not exist in the past 100 days, typically for small cap companies, FactSet Estimates automatically selects the latest estimate received within a predetermined time period. This window is used to ensure that clients are analyzing meaningful consensus estimates. Datadirect_support@factset.com (34) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES CONSENSUS REPORT The following table provides a detailed description of each of the 17 data fields that are by default retrieved when using the Consensus report. Field Name FS_PERM_SEC_ID FE_FP_END CURRENCY FE_ITEM FE_PER_REL DATE FE_MEAN FE_MEDIAN FE_NUM_EST FE_LOW FE_HIGH FE_STD_DEV FE_UP FE_DOWN FE_UNCHANGED Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The date corresponding to the fiscal period type that is entered. For example, if the arguments entered in the syntax are fiscal period=1 and period type=annual, the relative date is FY1 which is the current unreported fiscal year for the company. The currency in which the selected estimate actual item is displayed. The estimates item that is being retrieved, i.e. EPS. The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. The research date for the estimate item. This corresponds to the date of the report issued by a broker. Whenever a broker sends a new estimate or opinion, it is considered a research date. It reflects the date indicated in the actual report issued by the broker, not the date FactSet received it Consensus Estimate Mean Consensus Estimate Median Consensus Number of Estimates Consensus Lowest Estimate Consensus Higher Estimate Consensus Standard Deviation from Estimate Consensus Number of Estimates Revised Up Consensus Number of Estimates Revised Down Consensus Number of Estimates Unchanged Revisions Datadirect_support@factset.com (35) Copyright 2014 FactSet Research Systems Inc. All rights
FE_TOTAL FE_MEPS_INFO Example 1: Consensus Number of Total Estimates Revised Estimate Description Label In this example, retrieve for Microsoft the current consensus earnings per share (EPS) and capital expenditure estimates, for the current unreported fiscal year (FY1) and the next unreported fiscal year (FY2) of the company. factlet=estimatesondemand&id=msft&items=eps,capex &start_date=now&report=consensus&format=pipe&fisc alperiod=1,2&periodtype=annual Output: DF3K29-S-US 30-Jun-2014 USD EPS 1 25-Feb- 2014 2.687289476395 2.69000005722 33. 2.549999952316 2.789999961853 0.05436803028 23. 2. 8. 33. EPS - GAAP DF3K29-S-US 30-Jun-2015 USD EPS 2 25-Feb- 2014 2.911328315735 2.900000095367 35. 2.64000010490 4 3.22000002861 0.131952285767 13. 6. 16. 35. EPS - GAAP DF3K29-S-US 30-Jun-2014 USD CAPEX 1 25-Feb- 2014 6116.4736328125 6057.5 14. 5935.330078125 6483. 1 79.469177246094 1. 10. 2. 13. EPS - GAAP DF3K29-S-US 30-Jun-2015 USD CAPEX 2 25-Feb- 2014 6406.52783203125 6336. 13. 4542. 8501. 1041.99877 9296875 2. 4. 6. 12. EPS GAAP Datadirect_support@factset.com (36) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve the historical consensus EPS estimates for Microsoft, for the current unreported fiscal year (FY1) and the next unreported fiscal year (FY2) of the company from the most recent fiscal year end going back 5 years, on a quarterly basis. factlet=estimatesondemand&id=msft&items=eps&start_ Date=0Y&report=consensus&format=pipe&end=- 5Y&Q=fiscalperiod&dates=20140102&periodtype=annual _roll Output: DF3K29-S-US 30-Jun-2007 USD EPS 0 30-Jun- 2008 1.490000009537 1.490000009537 1. 1.490000009537 1.490000009537 0. 0. 0. 0. DF3K29-S-US 30-Jun-2007 USD EPS 0 1-Jul- 2008 1.490000009537 1.490000009537 1. 1.490000009537 1.490000009537 0. 0. 0. 0. DF3K29-S-US 30-Jun-2007 USD EPS 0 2-Jul- 2008 1.490000009537 1.490000009537 1. 1.490000009537 1.490000009537 0. 0. 0. 0. DF3K29-S-US 30-Jun-2007 USD EPS 0 3-Jul- 2008 1.490000009537 1.490000009537 1. 1.490000009537 1.490000009537 0. 0. 0. 0. Note:When using multiple dates in a query, only 1 fiscal period and 1 data item may be used. Datadirect_support@factset.com (37) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve for Microsoft & IBM the consensus earnings per share (EPS) and capital expenditure estimates as of 12/31/2011, for the current unreported fiscal quarter (FQ1) and the next unreported fiscal quarter (FQ2) of the companies (as of 12/31/2011). factlet=estimatesondemand&id=msft,ibm&items=eps,ca pex&start_date=12/31/2011&report=consensus&format= pipe&fiscalperiod=1,2&periodtype=quarterly_roll Output: DF3K29-S-US 31-Mar-2014 USD EPS 1 25-Feb- 2014 0.623296320438 0.620000004768 30. 0.58999997377 4 0.677115023136 0.021210996434 6. 21. 3. 30. EPS - GAAP DF3K29-S-US 30-Jun-2014 USD EPS 2 25-Feb- 2014 0.662214994431 0.670000016689 31. 0.56000000238 4 0.772046983242 0.045267995447 7. 20. 4. 31. EPS - GAAP DF3K29-S-US 31-Mar-2014 USD CAPEX 1 25-Feb- 2014 1536.088989257812 1514.5 10. 1302. 1760. 133.0076 14135742 0. 7. 2. 9. EPS - GAAP DF3K29-S-US 30-Jun-2014 USD CAPEX 2 25-Feb- 2014 1639.5439453125 1561.5 10. 1391. 2250. 253.939804 077148 1. 7. 1. 9. EPS - GAAP Datadirect_support@factset.com (38) Copyright 2014 FactSet Research Systems Inc. All rights
MCPQD9-S-US 31-Mar-2014 USD EPS 1 25-Feb- 2014 2.548342704773 2.539999961853 22. 2.49000000953 7 2.660000085831 0.044719833881 0. 19. 1. 20. EPS - Non GAAP MCPQD9-S-US 30-Jun-2014 USD EPS 2 25-Feb- 2014 4.39416885376 4.390000343323 22. 3.980000019073 4.619999885559 0.15083552897 14. 2. 4. 20. EPS - Non GAAP MCPQD9-S-US 31-Mar-2014 USD CAPEX 1 25-Feb- 2014 946.384582519531 992.922973632812 5. 757. 1000. 1 06.124954223633 0. 0. 3. 3. EPS - Non GAAP MCPQD9-S-US 30-Jun-2014 USD CAPEX 2 25-Feb- 2014 966.799011230469 992. 5. 856. 1000. 62.2185821533 2 0. 0. 3. 3. EPS - Non GAAP Note: To ensure that the estimate values reflected as of 12/31/2011 for FQ1 and FQ2 as of that date, ensure to specify periodtype as quarterly_roll, to ensure that the estimates are reflected on a rolling basis Datadirect_support@factset.com (39) Copyright 2014 FactSet Research Systems Inc. All rights
Example 4: In this example, retrieve the current EPS and book value per share estimates for the current unreported fiscal year (FY1) for Microsoft. Display only the mean consensus estimate. Note: By default, this report returns by default the columns of data FS_PERM_SEC_ID, FE_FP_END, CURRENCY, FE_ITEM, FE_PER_REL, Date factlet=estimatesondemand&id=msft&items=eps,bvps& start_date=now&report=consensus&format=pipe&fisca lperiod=1&periodtype=annual&fields=fe_mean Output: DF3K29-S-US 30-Jun-2014 USD EPS 1 25-Feb- 2014 2.687289476395 DF3K29-S-US 30-Jun-2014 USD BVPS 1 25-Feb- 2014 11.542172431946 Datadirect_support@factset.com (40) Copyright 2014 FactSet Research Systems Inc. All rights
Example 5: In this example, extract the EPS and capital expenditure estimates for Apple as of now, compared to previous estimates 30 days ago. Note: When looking at previous estimates, data is displayed for the mean, median, number of estimates, low and high values. factlet=estimatesondemand&id=aapl&items=eps,capex &start_date=now&report=consensus&format=pipe&fisc alperiod=1&periodtype=annual&previousdates=- 30&fields=prev Output: R85KLC-S-US 30-Sep-2014 USD EPS 1 25-Feb-2014 9- Jan- 2014 42.753849029541 43.554058074951 42.75499725341 8 43.705001831055 52. 52. 39.992500305176 35.99000167 8467 47.040000915527 47.009998321533 R85KLC-S-US 30-Sep-2014 USD CAPEX 1 25-Feb- 2014 9498.5634765625 9683. 9498. 9416.5 22. 22. 7940. 7 820. 11085. 12000. Datadirect_support@factset.com (41) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT GUIDANCE The Guidance report provides access to the estimates guidance that companies provide as an indication or estimate of their future earnings. FactSet Estimates provides high, low, and mean guidance estimates for companies. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The data extracted by this factlet is accessible by using other functions such as ExtractFormulaHistory and ExtractDataSnapshot, but the value added of this report is that the default output includes information in terms of the mean, high and low guidance values compared to the mean estimate based on the broker contributions. This default output would entail making multiple requests using the other functions. Datadirect_support@factset.com (42) Copyright 2014 FactSet Research Systems Inc. All rights
SOURCE OF GUIDANCE Companies provide guidance as an indication or estimate of their future earnings. The estimate guidance is collected by FactSet from the following sources: U.S. Companies: CallStreet Transcripts PR Newswire Business Wire CCN Matthews GlobeNewswire Market Wire CallStreet For European Companies: Financial Express Company Announcements Europe PR Newswire Hugin Southern Europe Hugin Europe Business Wire For Japanese Companies: TDNet Datadirect_support@factset.com (43) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES GUIDANCE REPORT The following table provides a detailed description of each of the 12 data fields that can be retrieved when using the Guidance report. Field Name FS_PERM_SEC_ID FE_FP_END CURRENCY FE_ITEM FE_PER_REL FE_MEAN_DATE Guidance_Min Guidance_Max Guidance_Mean FE_MEAN Guidance Min Date Guidance Max Date Guidance Mean Date Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The date corresponding to the fiscal period type that is entered. For example, if the arguments entered in the syntax are fiscal period=1 and period type=annual, the relative date is FY1 which is the current unreported fiscal year for the company. The currency in which the selected estimate actual item is displayed. The estimates guidance item that is being retrieved, i.e. EPS The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. The research date for the estimate item. This corresponds to the date of the report issued by a broker. Whenever a broker sends a new estimate or opinion, it is considered a research date. It reflects the date indicated in the actual report issued by the broker, not the date FactSet received it. Guidance Low Estimate Guidance High Estimate Guidance - Mean of High and Low Consensus - Mean of Estimates Guidance Min Record Date Guidance Max Record Date Guidance Mean Record Date Datadirect_support@factset.com (44) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, retrieve the earnings per share (EPS) guidance for FMC Technologies (ticker FMI) for the current unreported fiscal year (FY1) and the next unreported fiscal year (FY2) of the company. Note: The output provides a comparative perspective with the FE_MEAN column to display the mean estimate calculated from the estimates provided by brokers covering the company versus the guidance estimates that the company itself provides. factlet=estimatesondemand&id=fti&items=eps&start_ Date=NOW&report=guidance&format=pipe&fiscalperiod =1,2&periodtype=annual Output: KGNGPN-S-US USD EPS 1 25-Feb- 2014 2.549999952316 2.75 2.650000095367 2.6577160358 43 7-Feb-2014 7-Feb-2014 7-Feb-2014 KGNGPN-S-US USD EPS 2 25-Feb- 2014 3.272604942322 Note: Guidance can be available for the current unreported fiscal year (FY1) and NA for the following unreported fiscal year (FY2), as in this example. Datadirect_support@factset.com (45) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve the EPS guidance for FMC Technologies (ticker FMI) and Oceaneering International Inc. (ticker OII) for the current unreported fiscal year (FY1) of the companies. factlet=estimatesondemand&id=fti,oii&items=eps&sta rt_date=now&report=guidance&format=pipe&fiscalperi od=1&periodtype=annual Output: KGNGPN-S-US USD EPS 1 25-Feb- 2014 2.549999952316 2.75 2.650000095367 2.6577160358 43 7-Feb-2014 7-Feb-2014 7-Feb-2014 KNBNR0-S-US USD EPS 1 25-Feb- 2014 3.900000095367 4.099999904633 4. 4.043851852417 19-Feb-2014 19-Feb-2014 19-Feb-2014 Datadirect_support@factset.com (46) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve the historical EPS guidance for Oceaneering International Inc. (ticker OII) for the current unreported fiscal year (FY1) of the company as of 12/31/2011. factlet=estimatesondemand&id=oii&items=eps&start_ Date=12/31/2011&report=guidance&format=pipe&fiscalp eriod=1&periodtype=annual Output: KNBNR0-S-US USD EPS 1 25-Feb- 2014 3.900000095367 4.099999904633 4. 4.043851852417 19-Feb-2014 19-Feb-2014 19-Feb-2014 Datadirect_support@factset.com (47) Copyright 2014 FactSet Research Systems Inc. All rights
Example 4: In this example, retrieve the current EPS guidance for FMC Technologies (ticker FMI) for the current unreported fiscal year (FY1) of the company. Display only the mean consensus estimate and the mean guidance estimate. Note: By default, this report returns by default the following columns of data - FS_PERM_SEC_ID, CURRENCY, FE_ITEM, FE_MEAN_DATE,FE_MEAN,Guidance Mean factlet=estimatesondemand&id=fti&items=eps&start_ Date=NOW&report=guidance&format=pipe&fiscalperiod =1&periodtype=annual&fields=fe_mean,Guidance Mean Output: KGNGPN-S-US USD EPS 1 25-Feb 2014 2.657716035843 2.650000095367 Datadirect_support@factset.com (48) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT SURPRISE The Surprise report provides access to the difference between a firm's consensus one day before the eve of an earnings announcement and the same consensus 100 days after the first announcement of the current quarter or fiscal year. Only the first eve of quarter estimate is kept to calculate surprise. If an actual value exists, it supersedes the consensus for a 100 day period. A subscription to the FactSet Estimates database is necessary to be able to extract this data. The data extracted by this factlet is accessible by using other functions such as ExtractFormulaHistory and ExtractDataSnapshot, but the value added of this report is that the default output includes more comprehensive overview of the change in consensus estimates before and after the surprise event as well as the effect on the security price. This default output would entail making multiple requests using the other functions. Datadirect_support@factset.com (49) Copyright 2014 FactSet Research Systems Inc. All rights
SURPRISE METHODOLOGY There are two types of Surprise calculations, either using the Actual or the post-event consensus. The Actual is used as the default calculation for Australia, Japan, and the US geographic regions. The post-event consensus is used for all other regions, primarily Europe. However, if there is no Actual present, then the post-event consensus will be used. Surprise calculations are triggered by events, which include profit warnings, preliminary releases, or an earnings release, whether quarterly, semi-annual, or annual. The first event of the quarter will trigger the surprise calculation. Thus there can be more than one surprise calculation within a single quarter. Only after a company rolls will an Actual or Broker Actual be used. The Surprise Event is, by default, the first event of the quarter. In this case, the surprise calculation can be based on a profit warning if available, instead of a publication date. The post-event consensus is continuously updated as relevant data is received until 100 days after the event. At that point the post-event consensus is finalized and thus the Surprise value for that fiscal period will remain static unless there is more than one event in the same quarter. If the two events occur within the same quarter and they are not 100 days apart, the first post-event consensus will be finalized as of just before the release of the second event. Datadirect_support@factset.com (50) Copyright 2014 FactSet Research Systems Inc. All rights
Both annual and quarterly surprise values are calculated for every event. Either the quarterly or annual calculation must be designated by the user. Annual surprises are recalculated quarterly. The FactSet Estimates database assumes that recent quarterly results affect annual estimates. Thus, to retrieve a surprise figure as of the year end, the last fiscal quarter in the FactSet Estimates code should be referenced. Datadirect_support@factset.com (51) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES SURPRISE REPORT The following table provides a detailed description of each of the 13 data fields that are by default retrieved when using the Surprise report. Field Name FS_PERM_SEC_ID CURRENCY FE_ITEM FE_PER_REL Surprise_Before_Event Surprise_After_Event Surprise_Amount Surprise (%) Price_Impace(%) Surprise_Event Surprise_Period Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The currency in which the selected estimate actual item is displayed. The estimates item that is being retrieved, i.e. EPS. The relative fiscal period that is specified in the syntax. For example, when the syntax specified fiscal period=1 and period type=annual, the data is retrieved for the current unreported fiscal year for the company. This field retrieves a 1 for this example since the fiscal period argument is 1. If the argument is for the current reported fiscal year or quarter it would be FY0 or FQ0, respectively. Displays the Consensus figure one day prior to the surprise event. It can be displayed in several forms: median, mean, low, high, standard deviation, and number of estimates. Displays the Consensus figure post the surprise event. It can be displayed in several forms: median, mean, low, high, standard deviation, and number of estimates. Displays the value of surprise after minus surprise before. Displays the Surprise percentage, calculated as Surprise Amount/Surprise Before. Displays the Impact Surprise amount has on the Stock Price. It is the percentage in price change between the dates before the report date and after. By default the price impact will calculate 1 day before and 0 day after the report date. Surprise event date. Displays the fiscal period related to the surprise date. Surprise_Date_Before_Event Displays the date one day prior to a surprise event. Datadirect_support@factset.com (52) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, retrieve for IBM the estimates surprise details for the company s annual EPS as of the reported date on 1/31/2012. The consensus figure is displayed using the estimates mean, as indicated by the statistic=mean argument in the syntax below. Note: The fiscal period argument is specified as 0 because in this example the reported date for EPS results for 2011 is 1/19/2012 so as of that point it s the reported fiscal year, therefore the fiscalperiod argument is 0 rather than FY1. factlet=estimatesondemand&id=ibm&items=eps&start_ Date=1/19/2012&report=surprise&format=pipe&fiscalperi od=0&periodtype=annual&statistic=mean Output: MCPQD9-S- US USD EPS 0 16.878463745117 16.989999771118 0.1115 36026001 0.660818576813-3.279728651047 22-Jan- 2014 Results for 2013 2013 20140121 Note: To ensure that the estimate values reflected as of 1/20/2012, ensure to specify periodtype as annual_roll, to ensure that the estimates are reflected on a rolling basis. Datadirect_support@factset.com (53) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, retrieve for Blackrock and for Bank of America the estimates surprise details for the companies quarterly EPS as of 1/18/2012. The consensus figure is displayed using the estimates mean, as indicated by the statistic=mean argument in the syntax below. factlet=estimatesondemand&id=blk,bac&items=eps&st art_date=1/18/2012&report=surprise&format=pipe&fiscal period=0&periodtype=quarterly&statistic=mean Output: PB11JK-S- US USD EPS 0 4.324182987213 4.920000076294 0.595817 089081 13.778720855713 1.608312964439 16-Jan- 2014 Results for 2013 Q4 2013 20140115 Q3TRMZ-S- US USD EPS 0 0.260859012604 0.289999991655 0.029140 979052 11.171160697937 2.265946149826 15-Jan- 2014 Results for 2013 Q4 2013 20140114 Datadirect_support@factset.com (54) Copyright 2014 FactSet Research Systems Inc. All rights
Example 3: In this example, retrieve for IBM the estimates surprise details for the company s annual EPS as of the reported date on 1/31/2012. The consensus figure is displayed using the estimates mean, as indicated by the statistic=mean argument in the syntax below. Display only the surprise before and after event columns. Note: By default, this report returns by default the columns of data - FS_PERM_SEC_ID, CURRENCY, FE_ITEM, FE_PER_REL, Surprise_Before,Surprise_After. factlet=estimatesondemand&id=ibm&items=eps&start_ Date=1/19/2012&report=surprise&format=pipe&fiscalperi od=0&periodtype=annual&statistic=mean&fields=surpri se_before,surprise_after Output: MCPQD9-S- US USD EPS 0 16.878463745117 16.989999771118 Datadirect_support@factset.com (55) Copyright 2014 FactSet Research Systems Inc. All rights
Example 4: In this example, extract for IBM the estimate surprise details as of the most recent annual report for EPS. Display the price impact, setting a window for calculating the price impact from 2 days before reporting EPS through 2 days after reporting. factlet=estimatesondemand&id=ibm&items=eps&start_ Date=&report=surprise&format=pipe&fiscalperiod=0&pe riodtype=annual_roll&fields=price_impact&offset1=2&of fset2=2 Output: MCPQD9-S-US USD EPS 0-5.497394561768 Note: When using the offset1 and offset2 parameters, one item and one fiscal period can be specified per data request. The syntax can alternatively be set up individually to be able to assess the price impact at different ranges. factlet=estimatesondemand&id=ibm&items=eps&start_ Date=&report=surprise&format=pipe&fiscalperiod=0&pe riodtype=annual_roll&fields=price_impact&offset1=1&of fset2=2 factlet=estimatesondemand&id=ibm&items=eps&start_ Date=&report=surprise&format=pipe&fiscalperiod=0&pe riodtype=annual_roll&fields=price_impact&offset1=2&of fset2=2 Datadirect_support@factset.com (56) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT CONSENSUS RECOMMENDATION The Consensus Recommendation report provides access to the number of different recommendations given by brokers as well as the mean recommendation based on the recommendation mark mapping. A subscription to the FactSet Estimates database is necessary to be able to extract this data. RECOMMENDATION METHODOLOGY Recommendation data covers all broker recommendations received over the past 100 days. When a broker issues several recommendations over the past 100 days, only the most recent is retained. Datadirect_support@factset.com (57) Copyright 2014 FactSet Research Systems Inc. All rights
Recommendations are divided into five broad categories: Buy, Overweight, Hold, Underweight, and Sell. Then, a rating of between 1 and 3 is attributed to each category according to the table below. Recommendation Mark 1 Buy 1.5 Overwright 2 Hold 2.5 Underweight 3 Sell Recommendation Name The methodology used with the FactSet Estimates database is to keep recommendations consistent across the FactSet database. Not every broker uses the same recommendations that FactSet has in place. Therefore FactSet works with all of its contributors in order to correctly map their recommendations. The Estimates database builds out a recommendation dictionary for each broker which tells exactly how each of their recommendations corresponds to FactSet's own categories. These recommendations can be changed at any time should a contributor begin to give new recommendations, or want to change their existing mapping. By doing so, FactSet ensure that its contributor recommendations are captured correctly in the Estimates Database Datadirect_support@factset.com (58) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE ESTIMATES CONSENSUS RECOMMENDATION REPORT The following table provides a detailed description of each of the 10 data fields that are by default retrieved when using the ConsensusReco report. Field Name FS_PERM_SEC_ID Consensus_Date FE_BUY FE_OVER FE_HOLD FE_UNDER FE_SELL FE_TOTAL FE_MARK FE_NO_REC Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The consensus date for the mean recommendations.. The aggregate number of buy recommendations. The aggregate number of overweight recommendations The aggregate number of hold recommendations. The aggregate number of underweight recommendations The aggregate number of sell recommendations The aggregate number of recommendations The mean recommendation The aggregate number of brokers covering the security that are not providing a recommendation for the particular period. Datadirect_support@factset.com (59) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, extract the number of ratings for Facebook during the date range September 20, 2012 until most recent month end, on a monthly frequency. factlet=estimatesondemand&id=fb&start_date=now&r eport=consensusreco&format=pipe&end=20070814&fre q=m Output: BHM9TN-S-US 31-Jan- 2014 36. 5. 5. 0. 0. 46. 1.163043498993 0. BHM9TN-S-US 31-Dec- 2013 34. 5. 4. 0. 0. 43. 1.151162743568 1. BHM9TN-S-US 29-Nov- 2013 33. 5. 5. 0. 0. 43. 1.174418568611 0. BHM9TN-S-US 31-Oct- 2013 31. 4. 8. 0. 0. 43. 1.232558131218 0. BHM9TN-S-US 30-Sep- 2013 32. 2. 9. 0. 0. 43. 1.232558131218 0. Datadirect_support@factset.com (60) Copyright 2014 FactSet Research Systems Inc. All rights
Example 2: In this example, extract the number of ratings for Facebook during the date range September 20, 2012 until most recent month end, on a monthly frequency. Display only the total number of recommendations field. factlet=estimatesondemand&id=fb&items=&start_date =NOW&report=consensusreco&format=pipe&end=20120 920&freq=M&fields=FE_TOTAL Output: BHM9TN-S-US 46. BHM9TN-S-US 43. BHM9TN-S-US 43. BHM9TN-S-US 43. BHM9TN-S-US 43. BHM9TN-S-US 41. BHM9TN-S-US 40. BHM9TN-S-US 36. BHM9TN-S-US 37. BHM9TN-S-US 38. BHM9TN-S-US 39. BHM9TN-S-US 38. Datadirect_support@factset.com (61) Copyright 2014 FactSet Research Systems Inc. All rights
ESTIMATES REPORT DETAILED RECOMMENDATION The Detailed Recommendation report provides access in MATLAB to the number of different recommendations given by brokers. A subscription to the FactSet Estimates database is necessary to be able to extract this data in MATLAB.. RECOMMENDATION METHODOLOGY Recommendation data covers all broker recommendations received over the past 100 days. When a broker issues several recommendations over the past 100 days, only the most recent is retained. Datadirect_support@factset.com (62) Copyright 2014 FactSet Research Systems Inc. All rights
Recommendations are divided into five broad categories: Buy, Overweight, Hold, Underweight, and Sell. Then, a rating of between 1 and 3 is attributed to each category according to the table below Recommendation Mark Recommendation Name 1 Buy 1.5 Overwright 2 Hold 2.5 Underweight 3 Sell The methodology used with the FactSet Estimates database is to keep recommendations consistent across the FactSet database. Not every broker uses the same recommendations that FactSet has in place. Therefore FactSet works with all of its contributors in order to correctly map their recommendations. The Estimates database builds out a recommendation dictionary for each broker which tells exactly how each of their recommendations corresponds to FactSet's own categories. These recommendations can be changed at any time should a contributor begin to give new recommendations, or want to change their existing mapping. By doing so, FactSet ensure that its contributor recommendations are captured correctly in the Estimates Database. Datadirect_support@factset.com (63) Copyright 2014 FactSet Research Systems Inc. All rights
DATA FIELDS EXTRACTED WITH THE FACTSET ESTIMATES DETAILED RECOMMENDATION REPORT The following table provides a detailed description of each of the 10 data fields that are by default retrieved when using the FactSet Estimates Detail Recommendation report. Field Name FS_PERM_SEC_ID FE_BROKER FE_BROKERNAME FE_ANALYST FE_ANALYSTNAME FE_ESTIMATE FE_ESTIMATE_VALUE FE_EST_REV_VAL FE_EST_REV_VAL_ARROW Description The security identifier ; displayed as permsecid; use secid=y to display the id column with the same identifier(cusip,sedol,ticker, etc) - Column header will be labeled SecId The FactSet Estimates Broker code. For a list of active brokers available in FactSet Estimates and their corresponding codes refer to Online Assistant page 14706 The Broker Name, i.e. Goldman Sachs. The code for the analyst. The code is based on a FactSet people map and allows brokers to control readership entitlements. The name of the Analyst making providing the estimate. The detailed recommendation mark from contributing brokers over specified date range for the specified period (i.e. EPS for FY1). The detailed recommendation name from contributing brokers over specified date range for the specified period (i.e. EPS for FY1). The previous estimate value from the same analyst, for the same fiscal period. Retrieves a -1, 0, 1 or NA to indicate the direction of the recommendation change from the analyst. A -1 indicates that the latest recommendation value retrieved with FE_ESTIMATE is lower than the value retrieved with the previous estimate, retrieved with the field FE_EST_REV_VAL. A 0 indicates that there has been no change in the recommendation. A 1 indicates that the latest recommendation is higher than the previous value from the same analyst. An NA indicates that there was no previous value from that analyst for this security. Datadirect_support@factset.com (64) Copyright 2014 FactSet Research Systems Inc. All rights
Example 1: In this example, extract the broker recommendations for IBM during the date range September 20, 2012 until most recent month end, on a monthly frequency. factlet=estimatesondemand&id=ibm&items=&start_dat e=now&report=detailreco&format=pipe &end=20120920&freq=m Output: MCPQD9-S-US 6 JP Morgan 19643 Tien-tsin Huang 735739 2. Hold 2. 0 MCPQD9-S-US 917 Cowen & Company 6592 Moshe Katri 735738 2. Hold 2. 0 MCPQD9-S-US 232 Erste Group 39687 Martin Krajhanzl 735735 2. Hold 2. 0 MCPQD9-S-US 532 Janney Montgomery Scott 20377 Joseph D. Foresi 735734 2. Hold 2. 0 Datadirect_support@factset.com (65) Copyright 2014 FactSet Research Systems Inc. All rights
APPENDIX Table 1: Items for which estimates available with EstimatesOnDemand Description Book Value Per Share Capital Expenditure Cash Flow From Financing Cash Flow From Investing Cash Flow From Operations Cash Flow Per Share Declared Dividend Per Share EBIT EBITDA Earnings Per Share Earnings Per Share Excluding Exceptionals Reported Earnings Per Share Free Cash Flow Long Term Growth Net Debt Net Profit Adjusted Net Profit Pre-Tax Profit Pre-Tax Profit Reported Sales Number of Shares Basic Number of Shares Stock Option Expense Target Price Total Assets Total Goodwill Gross Income Free Cash Flow Per Share Item Code BVPS CAPEX CFF CFI CFO CFPS NETDIV EBIT EBITDA EPS EBG EAG FCF LTG NETDEBT NETBG NETPROFIT PTP PTPBG SALES NBTITBAS NBTITB FASB123IMP TGP TOTASSETS TOTGW GROSSINCOME FCFPS Datadirect_support@factset.com (66) Copyright 2014 FactSet Research Systems Inc. All rights
Research and Development Selling, General and Administrative Expense Shareholder's Equity Funds From Operations Adjusted Funds From Operations Shares Diluted Shares Basic Custom EPS Tangible Book Value per Share Same Store Sales Current Liabilities Tax Expense Total Debt Current Assets RD_EXP SGA SH_EQUITY FFO AFFO SHARD SHARB CUSTOM_EPS BPS_TANG SAMESTORESALES CURRENTLIABILITIES TAX_EXPENSE TOTALDEBT CURRENTASSETS Datadirect_support@factset.com (67) Copyright 2014 FactSet Research Systems Inc. All rights