Quarterly Earnings Estimates for Publicly Traded Agribusinesses: An Evaluation

Mark Manfredo, Dwight R. Sanders and Winifred Scott

No 42436, 2008 Annual Meeting, June 23-24, 2008, Big Sky, Montana from Western Agricultural Economics Association

Abstract: Decisions made by publicly traded agribusinesses impact suppliers, processors, farmers, and even rural communities. Professional analysts’ estimates of earnings per share (EPS) provide a unique source of information regarding firm-level financial performance. Incorporating a battery of tests, this research examines the forecast properties of consensus analysts’ EPS estimates reported in the Institutional Brokers Estimate System for a sample of publicly traded food companies. While the results are mixed among firms, they suggest 1) analysts forecasts are largely unbiased but inefficient, and may not encompass information in simple time series models, and 2) EPS may be becoming more difficult to estimate.

Keywords: Agribusiness; Agricultural Finance; Financial Economics (search for similar items in EconPapers)
Pages: 26
Date: 2008-07
New Economics Papers: this item is included in nep-agr, nep-for and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:ags:waeabi:42436

DOI: 10.22004/ag.econ.42436

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