Abstract:With the development of Chinese capital market, the role of financial analysts has become increasingly prominent. All the industries are always keeping focus on research of analysts earnings forecast. By using the data of analysts earnings forecast of A share listed companies in Shanghai and Shenzhen Stock Exchanges from 2011 to 2015, the paper examines the impact of corporate strategic deviance on the accuracy of analysts earnings forecast and tracking preferences of analysts. The empirical results show that: (1) Greater deviance of corporate strategy means less accuracy of the analysts earnings forecast; (2) Firms with more strategic deviance have more dispersion among individual analyst earnings forecast; (3) There are fewer number of analysts tracking as more strategic deviance exists. Further research finds that state ownership weakens the negative effect of strategic deviance on the accuracy of the analysts earnings forecast and the number of trackers.