Fuyao Glass Industry Group Co., Ltd. (SHSE:600660) Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For This Year

Fuyao Glass Industry Group Co., Ltd. (SHSE:600660) shareholders are probably feeling a little disappointed, since its shares fell 4.6% to CN¥43.18 in the week after its latest annual results. Results were roughly in line with estimates, with revenues of CN¥33b and statutory earnings per share of CN¥2.16. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Fuyao Glass Industry Group after the latest results.

See our latest analysis for Fuyao Glass Industry Group

Taking into account the latest results, the most recent consensus for Fuyao Glass Industry Group from 20 analysts is for revenues of CN¥38.6b in 2024. If met, it would imply a meaningful 16% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to expand 15% to CN¥2.48. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥37.9b and earnings per share (EPS) of CN¥2.41 in 2024. So the consensus seems to have become somewhat more optimistic on Fuyao Glass Industry Group's earnings potential following these results.

There's been no major changes to the consensus price target of CN¥50.71, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic Fuyao Glass Industry Group analyst has a price target of CN¥70.10 per share, while the most pessimistic values it at CN¥36.00. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Fuyao Glass Industry Group's growth to accelerate, with the forecast 16% annualised growth to the end of 2024 ranking favourably alongside historical growth of 11% per annum over the past five years. Other similar companies in the industry (with analyst coverage) are also forecast to grow their revenue at 16% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Fuyao Glass Industry Group is expected to grow at about the same rate as the wider industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Fuyao Glass Industry Group following these results. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Fuyao Glass Industry Group. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Fuyao Glass Industry Group analysts - going out to 2026, and you can see them free on our platform here.

We also provide an overview of the Fuyao Glass Industry Group Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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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.