Industry Analysts Just Made A Sizeable Upgrade To Their Mashreqbank PSC (DFM:MASQ) Revenue Forecasts

Mashreqbank PSC (DFM:MASQ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the current consensus from Mashreqbank PSC's dual analysts is for revenues of د.إ9.7b in 2023 which - if met - would reflect a decent 19% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of د.إ8.4b in 2023. The consensus has definitely become more optimistic, showing a solid increase in revenue forecasts.

See our latest analysis for Mashreqbank PSC

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's clear from the latest estimates that Mashreqbank PSC's rate of growth is expected to accelerate meaningfully, with the forecast 26% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 3.8% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 6.3% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Mashreqbank PSC to grow faster than the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Mashreqbank PSC this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Mashreqbank PSC.

Want more information? At least one of Mashreqbank PSC's dual analysts has provided estimates out to 2025, which can be seen for free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.