Brokers Are Upgrading Their Views On OceanPact Serviços Marítimos S.A. (BVMF:OPCT3) With These New Forecasts

OceanPact Serviços Marítimos S.A. (BVMF:OPCT3) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The analysts greatly increased their revenue estimates, suggesting a stark improvement in business fundamentals.

Following the upgrade, the most recent consensus for OceanPact Serviços Marítimos from its twin analysts is for revenues of R$1.9b in 2024 which, if met, would be a notable 13% increase on its sales over the past 12 months. Statutory earnings per share are anticipated to decrease 7.0% to R$0.34 in the same period. Prior to this update, the analysts had been forecasting revenues of R$1.7b and earnings per share (EPS) of R$0.29 in 2024. There has definitely been an improvement in perception recently, with the analysts substantially increasing both their earnings and revenue estimates.

View our latest analysis for OceanPact Serviços Marítimos

Despite these upgrades, the analysts have not made any major changes to their price target of R$8.86, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that OceanPact Serviços Marítimos' revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 13% growth on an annualised basis. This is compared to a historical growth rate of 30% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 18% annually. Factoring in the forecast slowdown in growth, it seems obvious that OceanPact Serviços Marítimos is also expected to grow slower than other industry participants.

The Bottom Line

The most important thing to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. Pleasantly, analysts also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow slower than the wider market. The lack of change in the price target is puzzling, but with a serious upgrade to this year's earnings expectations, it might be time to take another look at OceanPact Serviços Marítimos.

Still, the long-term prospects of the business are much more relevant than next year's earnings. We have analyst estimates for OceanPact Serviços Marítimos going out as far as 2026, and you can see them free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks 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.