RT Journal Article
SR Electronic
T1 The Empirical Relationship Between Stock Prices and Long-Term Earnings
JF The Journal of Investing
FD Institutional Investor Journals
SP 49
OP 52
DO 10.3905/JOI.2009.18.3.049
VO 18
IS 3
A1 Joe Callaghan
A1 Austin Murphy
A1 Mohinder Parkash
A1 Hong Qian
YR 2009
UL https://pm-research.com/content/18/3/49.abstract
AB This article shows stock prices to be related to be a function of long-term earnings forecasts, as is consistent with financial theory. Stock prices reflect not only the average of the IBES long-term earnings predictions but also some superior forecasting power beyond that aggregated average prediction.TOPICS: Security analysis and valuation, statistical methods, exchanges/markets/clearinghouses