When you adjust the IBES Summary Statistics data for splits, you can lose a great deal of precision since the summary statistics are only accurate to 2 decimal places.

Unfortunately, the only way to correct the problem is to recalculate the Summary Statistics using the underlying Detail History data. If you do this, you can save the statistics data to any desired degree of precision. Recalculating the statistics is non-trivial, however, the following is an outline from IBES on how this should be done:

If calculating Consensus values using Detail history:

1: Extract estimate data with max announce a date for a ticker prior to an ex-date i.e. <= 981003 for FY1 or Qtr1 end data i.e. FY 9812.

2: Extract Stopped data with max announce a date for a ticker prior to an ex-date i.e. <= 981003 for FY1 or Qtr1 end data i.e. FY 9812.

3: Extract Excluded data with max announce a date for a ticker prior to an ex-date i.e. <= 981003 for FY1 or Qtr1 end data i.e. FY 9812.

4: Delete all estimates matching IBES Ticker/Estimator Code/Period end date from Detail estimate to IBES Ticker/Estimator Code/Period end date from Stopped estimates where estimate date from Detail estimate less than the stop date from Stopped Estimate.

5: Delete all estimates matching IBES Ticker/Estimator Code/Analyst Code/Period end date from Detail estimate to IBES Ticker/Estimator Code/Analyst Code/Period end date from Excluded estimates where estimate date from Detail estimate equals the estimated date from Excluded estimates.

6: Sum the values of the remaining estimates and divide by the number of estimates to get the consensus value.

## Comments

0 comments

Please sign in to leave a comment.