The Speed of Earnings Anticipation: Evidence from Daily Analyst Forecasts

2018 ◽  
Author(s):  
Nathan T. Marshall
Keyword(s):  
Analyst Forecasts

On the Weighting of Individual Analyst Forecasts in the Consensus

2007 ◽  
Author(s):  
Marty B. Butler ◽  
Stanimir Markov ◽  
Arthur G. Kraft
Keyword(s):  
Analyst Forecasts

Rounding of Analyst Forecasts

2005 ◽  
Vol 80 (3) ◽  
pp. 805-823 ◽  
Author(s):  
Don Herrmann ◽  
Wayne B. Thomas
Keyword(s):  
Forecast Accuracy ◽  
Analyst Forecasts ◽  
Forecast Dispersion ◽  
Negative Relation ◽  
Consensus Forecasts ◽  
Earnings Per Share ◽  
Market Expectations

We find that analyst forecasts of earnings per share occur in nickel intervals at a much greater frequency than do actual earnings per share. Analysts who round their earnings per share forecasts to nickel intervals exhibit characteristics of analysts who are less informed, exert less effort, and have fewer resources. Rounded forecasts are less accurate and the negative relation between rounding and forecast accuracy increases as the rounding interval increases from nickel to dime, quarter, half-dollar, and dollar. An examination of announcement period returns reveals that market expectations more closely align with consensus forecasts including rounded forecasts and then correct toward the more accurate consensus forecasts excluding rounded forecasts. Finally, exclusion of rounded forecasts decreases forecast dispersion.

How good are analyst forecasts of oil prices?

2021 ◽  
pp. 105500
Author(s):  
Gonzalo Cortazar ◽  
Hector Ortega ◽  
Consuelo Valencia
Keyword(s):  
Oil Prices ◽  
Analyst Forecasts

Does Audit Committee Disclosure of Partner-Selection Involvement Signal Greater Audit Quality?

2021 ◽  
Author(s):  
Jimmy F. Downes ◽  
Michelle A. Draeger ◽  
Abbie E. Sadler
Keyword(s):  
Audit Committee ◽  
Audit Quality ◽  
Selection Process ◽  
Partner Selection ◽  
Analyst Forecasts ◽  
Securities And Exchange Commission ◽  
Audit Committees ◽  
Voluntary Disclosures ◽  
Level Of Involvement ◽  
Selection Of

We investigate whether audit committees use voluntary disclosures to signal the committees’ higher level of involvement in the audit partner-selection process, which contributes to higher levels of audit quality. Audit committees more involved in the partner-selection process should ensure the selection of a more rigorous partner. We test this conjecture by first identifying partners new to audit engagements. We then compare audit quality for companies whose audit committees disclose involvement in the selection of the new partner to those without this disclosure. We find that this disclosure is positively associated with audit quality (measured using discretionary accruals, misstatements, and meeting consensus analyst forecasts by a very small margin). Our results are more salient for complex companies and those with powerful audit committees. These findings highlight that audit committees use their disclosures to signal involvement in the partner-selection process and are relevant to the Securities and Exchange Commission.

Analyst Forecasts: Sales and Profit Margins

2016 ◽  
Author(s):  
James A. Ohlson ◽  
C.S. Agnes Cheng ◽  
K.C. Kenneth Chu
Keyword(s):  
Analyst Forecasts ◽  
Profit Margins

The Stewardship Role of Analyst Forecasts, and Discretionary Versus Non-discretionary Accruals

2013 ◽  
Vol 22 (2) ◽  
pp. 257-296 ◽  
Author(s):  
Peter O. Christensen ◽  
Hans Frimor ◽  
Florin Şabac
Keyword(s):  
Discretionary Accruals ◽  
Analyst Forecasts
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