What question did this study set out to answer?

The central aim is to clarify comments made about the accuracy of earnings forecasts by analysts.

March 18, 2026

A Comparison of the Accuracy of Corporate and Security Analysts' Forecasts of Earnings: A Reply.

BBBart A. BasiPennsylvania State University KCKenneth J. CareyUniversity of Illinois Urbana-Champaign RTRichard D. TwarkPennsylvania State University

Key Points

The central aim is to clarify comments made about the accuracy of earnings forecasts by analysts.
Presented a reply to critiques regarding the accuracy of earnings forecasts.
Clarified the objectives of the original study on analyst forecasts.
Responded to specific criticisms of the forecasting model used.
Reiterated the key findings on analysts' forecast accuracy.
Addressed misunderstandings related to the forecasting model.
Provided detailed responses to criticisms raised in commentaries.

Abstract

Abstract Presents a reply to commentaries on a study about accuracy of earnings forecast. Clarification on the objectives of the study; Criticism on the model used in the study.

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