I downloaded a sample file with IBES Guidance data from Wharton Research Data Services (WRDS). Please find this file attached (Adobe Sample). It appears that the data which is used to create these files are also available in Refinitiv Eikon/Workspace.
Goal: For a given equity, I want to retrieve every guidance that was published in a certain time period (e.g., 2009-2020), including quarterly and annual guidances.
Example code using Adobe:
df, err = ek.get_data(
instruments = ['ADBE.O'],
fields = [
'TR.EstGuidLowValue(Period=FQ1,Frq=FQ,SDate=2009-01-01,GuidEstMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidHighValue(Period=FQ1,Frq=FQ,SDate=2009-01-01,GuidEstMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidMeanAtDate(Period=FQ1,Frq=FQ,SDate=2009-01-01,GuidEstMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidDate(Period=FQ1,Frq=FQ,SDate=2009-01-01,GuidEstMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidValueDescriptor(SDate=2009-01-01,Period=FQ1,Frq=FQ,GuidMeasure=EPS,GuidEstMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidCompGuidMeasureCode(SDate=2009-01-01,Period=FQ1,Frq=FQ,GuidEstMeasure=EPS,GuidMeasure=EPS,EDate=2021-01-31)',
'TR.GuidanceDocType(SDate=2009-01-01,Period=FQ1,Frq=FQ,GuidMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidPeriodYear(SDate=2009-01-01,Period=FQ1,Frq=FQ,GuidMeasure=EPS,EDate=2021-01-31)',
'TR.EstGuidPeriodMon(SDate=2009-01-01,Period=FQ1,Frq=FQ,GuidMeasure=EPS,EDate=2021-01-31)'
]
)
display(df)
It seems that using the API, there are guidance observations missing. The first one in the sample file was announced on March 4th 2009 (EPS range from 0.44 - 0,45) and the second is from March 17th 2009 (EPS 0.31 - 0.38). The first one from March 4th is missing when retrieving the data using the code above though.
Likewise, according to the sample file (as well as Adobe's press release from that day) the firm reconfirmed its guidance on October 7th 2009. This entry is also missing using the API approach (as well as some others). Any ideas why this might be the case and how to fix it?
According to the IBES Guidance user guide p.28ff. (attached) the "Guidance relative to consensus" variable indicates whether a guidance beats (02), matches (03) or falls short (01) of analysts consensus (06 is assigned to management guidance but I don't really understand what this means yet). The approach described on p. 28 ff. to create this variable is quite time consuming. Is there an option to extract this data using the API or is there some postprocessing required?
Finally, I the code above will only extract quarterly earnings guidances. (see September 20th 2011 for example). Is there an option to include both - quarterly AND annual guidance - as well as those where the company doesn't provide an upper boundary?
Thank you!
