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Quarterly Earnings Estimates for Publicly Traded Agribusinesses: An Evaluation

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  • Manfredo, Mark R.
  • Sanders, Dwight R.
  • Scott, Winifred

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.

Suggested Citation

  • Manfredo, Mark R. & Sanders, Dwight R. & Scott, Winifred, 2008. "Quarterly Earnings Estimates for Publicly Traded Agribusinesses: An Evaluation," 2008 Annual Meeting, June 23-24, 2008, Big Sky, Montana 42436, Western Agricultural Economics Association.
  • Handle: RePEc:ags:waeabi:42436
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    File URL: http://ageconsearch.umn.edu/record/42436/files/WAEA%2008%20-%20Manfredo%20Sanders%20Scott.pdf
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    Cited by:

    1. Brandon Schaufele & David Sparling, 2011. "Regulation and the financial performance of Canadian agribusinesses," Agricultural Finance Review, Emerald Group Publishing, vol. 71(2), pages 201-217, August.

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    Keywords

    Agribusiness; Agricultural Finance; Financial Economics;

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