Revealed: The City's best equity analysts

Trophies

Numis Securities has come out as the biggest winner this year in the battle of the sell-side equity analysts, although Goldman Sachs’ Rob Joyce has the strongest track record of any individual analyst, according to awards to be announced this week.

Analysts from Paternoster Square-headquartered Numis won 12 awards in the Thomson Reuters Starmine analyst awards across different categories, City A.M. can reveal.

Goldman’s retail analyst, Rob Joyce, was the best stock pickers in London during the past year, the data show, with an excess return for his tipped stocks of 25.4 per cent over the average.

Only Bank of America Merrill Lynch’s banks and financial services analyst, Philip Middleton, matched Joyce in recording an excess return of more than 20 per cent, at 24.8 per cent.

The City’s best stock pickers

Rank

Analyst

Broker

Overall Excess Return

Primary Coverage Industries

1

Rob Joyce

Goldman Sachs

25.4%

Retail

2

Philip Middleton

BofA Merrill Lynch Global Research

24.8%

Banks and financial services

3

Gregor Kuglitsch

UBS

18.4%

Construction; consumer and business services

4

Rahim Karim

Liberum

18.3%

Consumer and business services; banks and financial services

5

James Hamilton

Numis Securities

18.3%

Banks and financial services

6

Daud Khan

Canaccord Genuity

16.8%

Technology equipment and services

7

Phillip Carroll

Shore Capital

15.5%

Food and household products; retail

8

Gavin Jago

Peel Hunt

15.2%

Construction; real estate; consumer and business services

9

Paul Cuddon

Numis Securities

14.8%

Health care

10

Richard Edwards

Goldman Sachs

13.6%

Retail

Meanwhile, SG Securities’ retail analyst Anne Critchlow came top of the pile for earnings estimate accuracy, followed by Numis’s construction and real estate analyst Christopher Millington.

A strong performance on stock picking and earnings estimates will likely play an increasingly important role for sell-side analysts, after the Mifid II regulations this year shone the spotlight on the industry. Firms must now be transparent about how they charge clients for research, with industry figures predicting the sector could shrink as investors focus on value.

While Numis came out as the winner overall, UBS and Investec Securities also enjoyed strong firm-wide performances, with eight awards apiece.

Best earnings estimates by analyst

Rank

Analyst

Broker

Primary Coverage Industries

1

Anne Critchlow

SG Securities

Retail

2

Christopher Millington

Numis Securities

Construction; real estate

3

Assad Malic

Citi Research

Retail

4

Daniel Garrod

Barclays

Banks and financial services

5

Gregor Kuglitsch

UBS

Construction; consumer and business services

6

James Grzinic

Jefferies International Limited

Retail

7

Michael Mitchell

Davy Stockbrokers

Consumer and business services

8

David Pleming

HSBC Global Research

Metals and mining

9

Christopher Fremantle

Morgan Stanley

Real estate; construction

10

Patrick Wellington

Morgan Stanley

Media

Best earnings estimates by industry

Rank

Industry

Analyst

Broker

1

Banks and financial services

Daniel Garrod

Barclays

1

Construction

Gregor Kuglitsch

UBS

1

Consumer and business services

Justin Jordan

Jefferies International Limited

1

Energy

Brian Gallagher

Investec Securities

1

Equipment and machinery

Robert Davies

Morgan Stanley

1

Food and household products

Komal Dhillon

J.P. Morgan Cazenove

1

Health care

David Amsellem

Piper Jaffray

1

Hotels, restaurants and leisure

Joseph Thomas

HSBC Global Research

1

Insurance

Barrie Cornes

Panmure Gordon

1

Media

Patrick Wellington

Morgan Stanley

1

Metals and mining

David Pleming

HSBC Global Research

1

Real estate

Christopher Fremantle

Morgan Stanley

1

Retail

Anne Critchlow

SG Securities

1

Technology equipment and services

James Goodman

Barclays

1

Transportation

Joe Spooner

Jefferies International Limited

1

Utilities

Roshan Patel

Investec Securities

Full story: Revealed: The City's best equity analysts: City A.M.

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