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superior methods. Therefore, we argue that in order to improve forecast accuracy, analysts need to assess company value by …
Persistent link: https://www.econbiz.de/10013076096
We extend prior research examining the relation between aggregate recommendation changes and future returns by documenting that this relation varies over time as a function of the predictability of future earnings growth. When industry-level earnings growth is more predictable, we find that...
Persistent link: https://www.econbiz.de/10012840191
. We also conduct a study on the persistence of forecast accuracy across analysts and across stocks over the 15-year period … analyst forecast values and back-test a range of forecast-driven systematic strategies …
Persistent link: https://www.econbiz.de/10012842120
forecasts by 25.3%. This study may be the first of its kind to assess analyst earnings forecast accuracy at all listed companies …
Persistent link: https://www.econbiz.de/10012959862
We analyze three different mechanical models to forecast earnings and compare their forecasts with those of analysts … from analysts' forecasts more reliable than ICCs based on model forecasts? And 3) does higher forecast performance also … reliability of analyst-based ICCs seems to indicate a missing link between forecast performance and ICC reliability, in fact …
Persistent link: https://www.econbiz.de/10012901020
We investigate the determinants of analysts' target price forecasts and evaluate their relative importance for explaining the cross-sectional variation in target price implied returns. We identify four broad determinants: the informational component predictive of future stock returns, errors in...
Persistent link: https://www.econbiz.de/10012904968
forecast characteristics for analyst forecast accuracy. Following the enactment of these regulations, more experienced analysts … and All-Star analysts do not maintain their superior forecast accuracy, and analysts employed by large brokerage houses … industries and firms followed, days elapsed since the last forecast, and forecast horizon. While the importance of bold upward …
Persistent link: https://www.econbiz.de/10012974968
in private debt contracts. We find greater proximity between the analysts' consensus earnings forecast and the future …
Persistent link: https://www.econbiz.de/10012852918
This study examines the stock-price reactions to analyst forecast revisions around earnings announcements to test … suggests that prior studies' finding of weaker (stronger) stock-price responses to forecast revisions in the period immediately …
Persistent link: https://www.econbiz.de/10013059828
forecast when actual earnings exceed the consensus and the most pessimistic forecast when the consensus exceeds actual earnings …
Persistent link: https://www.econbiz.de/10012992160