Key points are not available for this paper at this time.
In this study I propose and test a model that predicts individual analyst forecasts of corporate earnings per share (EPS) using the change in the mean consensus forecast of other analysts since the date of the analyst's current outstanding forecast; the deviation of the analyst's current forecast from the consensus forecast; and cumulative stock returns since the date of the analyst's current forecast. I find that these three variables explain about 38% of the variability in analyst forecast revisions. While there is evidence of a relation between changes in earnings expectations and price changes, virtually all of the explanatory power of my model arises from other analyst forecasts. Section 2 describes the data bases used and the sample selection process. Section 3 presents the model and method for predicting individual analyst forecasts. Section 4 reports the bias and accuracy of the predicted forecasts. Conclusions are in section 5.
Building similarity graph...
Analyzing shared references across papers
Loading...
Scott E. Stickel (Mon,) studied this question.
www.synapsesocial.com/papers/6a0fd75f8090e499da603c9d — DOI: https://doi.org/10.2307/2491158
Scott E. Stickel
Journal of Accounting Research
Building similarity graph...
Analyzing shared references across papers
Loading...
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: