Securities Research Analyst Earnings Forecaet Effect

Twelfth Five-Year Plan from the financial markets since the start of the ever-changing, and securities analysts function of financial market participants as important is constantly being improved. Securities analysts through a rich collection channels relevant information of listed companies, using their expertise and technology to make data analysis and processing earnings forecast, allows investors to better carry out financial investment activities after the reference report. Its earnings forecast report released to investors not only provide advice, and the actual impact on the profitability of the company’s future, so as to enhance the efficiency of market allocation of resources, market economic reform. In this case, given the importance of securities analysts earnings forecasts, the paper focuses on the transportation industry securities analyst earnings forecast accuracy as well as its earnings forecast accuracy and what factors influence the subject.Transportation is the basic industry of China’s economy and leading industry, and promote the "deep end" reform is inextricably linked, it plays an integral role in deepening economic reform while the number of securities analysts tracking the sector, a research report released parts will be more. By securities analysts forecast earnings abroad literature review found that individual to transport this article centered Securities analyst earnings forecast very little research. Therefore, this article is an example of transportation-related research and analysis.In this paper, the theory and securities analyst securities analyst earnings forecasts involve precise defines related concepts, were selected 2010--2014 financial data transport Securities analyst earnings forecast and transportation of listed companies as a sample, Between transportation Industry analyst forecast accuracy,from the company factors and personal factors analysts start using empirical research methods of multiple linear regression, factors affecting securities analysts earnings forecast accuracy were studied, and finally through descriptive statistical analysis, thestability of earnings forecast of analysts to discuss transportation security.The results showed that: securities analyst earnings forecast of listed companies transport although there is a certain tendency but optimistic estimates more accurate.In addition, the volatility and size of the company and securities analysts earnings of listed transport company’s profit forecast to a negative correlation between the accuracy and the predictability of earnings, analysts follow the company’s growth rate and the number of Transportation Security Analysis division into a positive correlation prediction accuracy, and securities analysts predict the relationship between the size of institutions and securities experience is not significant.