Industry Analysts Just Made A Substantial Upgrade To Their Beijing SinoHytec Co., Ltd. (SHSE:688339) Revenue Forecasts

Celebrations may be in order for Beijing SinoHytec Co., Ltd. (SHSE:688339) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for this year has experienced a facelift, with analysts now much more optimistic on its sales pipeline.

Following the upgrade, the most recent consensus for Beijing SinoHytec from its seven analysts is for revenues of CN¥1.2b in 2024 which, if met, would be a sizeable 62% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CN¥1.1b in 2024. The consensus has definitely become more optimistic, showing a nice increase in revenue forecasts.

Check out our latest analysis for Beijing SinoHytec

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. The analysts are definitely expecting Beijing SinoHytec's growth to accelerate, with the forecast 90% annualised growth to the end of 2024 ranking favourably alongside historical growth of 12% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 17% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Beijing SinoHytec is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than 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 Beijing SinoHytec.

Unsatisfied? At least one of Beijing SinoHytec's seven analysts has provided estimates out to 2026, 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 backed by insiders.

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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.