Celebrations may be in order for Fiera Capital Corporation (TSE:FSZ) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for next year has experienced a facelift, with analysts now much more optimistic on its sales pipeline.
After this upgrade, Fiera Capital's seven analysts are now forecasting revenues of CA$868m in 2022. This would be a sizeable 23% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CA$744m in 2022. It looks like there's been a clear increase in optimism around Fiera Capital, given the nice gain to revenue forecasts.
Of course, another way to look at these forecasts is to place them into context against the industry itself. The period to the end of 2022 brings more of the same, according to the analysts, with revenue forecast to display 18% growth on an annualised basis. That is in line with its 15% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue shrink 32% annually. So not only is Fiera Capital expected to maintain its revenue growth despite the wider downturn, it's also forecast to grow faster than the industry as a whole.
The Bottom Line
The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for next year. They're also forecasting for revenues to perform better than companies in the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Fiera Capital.
Looking to learn more? We have analyst estimates for Fiera Capital going out to 2023, 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.