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Bad EPS data in morningstar?

Hello,

I'm looking at some stock screens from SI-Pro (i suspect that it is powered by data from Reuters) and I'm trying to build a backtest in Quantopian from it.

I was spot checking the results from running the same query against quantopian and stock investor pro and happened to be looking at the stock ticker NTN Buzztime, Inc. (NTN) and the results significantly differed.

For the quarter reported on 9/30/2015
* Quantopian / MStar shows the 'morningstar.earnings_report.basic_continuous_operations' as -0.014667
* SIPro/Reuters shows the same quarter as -0.733

Is there a third source to confirm whether MStar has the right data for this field?

Ultimately in my notebook, I'm trying to find the equities whose current EPS from continuing operations has grown more than 20% from the same quarter 1 year ago and the numbers sometimes match my source.

Any help is appreciated.

2 responses

The way to verify ANY of the fundamental data is to look at the actual 10Q or 8K reports filed by the company. The first thing to do is to look at three fields that come with each Morningstar data point - 'form', 'filed', 'as-of' . Those give you the form which Morningstar got the data from, the date that form was filed with the SEC, and the date that the data refers to (ie quarter ending date typically).

Attached is a notebook showing those fields. The 9/30/2015 earnings came from the 10Q report filed on 2015-11-09 (though the data says '8K'). Go to Edgars or often the company website and search for that particular report. Below is the link to all the reports on the NTN website.

http://www.buzztime.com/business/investor-relations-sec-filings/

Scroll through the list and find this particular 10Q. Below is the link
link to 10Q

Look on page 2. I believe that's where Morningstar is pulling "Net loss per common share - basic and diluted Three Months Ended September 30 2015 $-0.01/share". It's rounded in the report but if you do the math you come up with the value Morningstar is reporting. Note that ALL values in fundamentals are for the previous quarter. The number you are getting from Reuters looks maybe like a trailing twelve month (TTM) number?

Hi Dan,

Definitely appreciate your research on this. I've looked closer at the data and I'm still getting irregularities. Here are a few equities that have come up in my list with a null/nan EPS value, but on the morningstar website & SI-Pro it does have values:

I'm not sure whether to refine something or write it off as a data discrepancy.

When I filter SI-Pro for equities that have an EPS-from continuing operations of more than 20 the result is 2682 securities. When I filter from quantopia, the result is 59.