Diether, Karl B.; Malloy, Christopher J.; Scherbina, Anna - In: Journal of Finance 57 (2002) 5, pp. 2113-2141
We provide evidence that stocks with higher dispersion in analysts' earnings forecasts earn lower future returns than otherwise similar stocks. This effect is most pronounced in small stocks and stocks that have performed poorly over the past year. Interpreting dispersion in analysts' forecasts...