Industry Analysts Just Made A Substantial Upgrade To Their Beijing Easpring Material Technology CO.,LTD. (SZSE:300073) Revenue Forecasts

Beijing Easpring Material Technology CO.,LTD. (SZSE:300073) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Beijing Easpring Material TechnologyLTD will make substantially more sales than they'd previously expected. The stock price has risen 6.8% to CN¥32.15 over the past week, suggesting investors are becoming more optimistic. Whether the upgrade is enough to drive the stock price higher is yet to be seen, however.

Following the latest upgrade, the current consensus, from the 13 analysts covering Beijing Easpring Material TechnologyLTD, is for revenues of CN¥9.1b in 2024, which would reflect a definite 12% reduction in Beijing Easpring Material TechnologyLTD's sales over the past 12 months. Before the latest update, the analysts were foreseeing CN¥8.1b of revenue in 2024. It looks like there's been a clear increase in optimism around Beijing Easpring Material TechnologyLTD, given the solid increase in revenue forecasts.

View our latest analysis for Beijing Easpring Material TechnologyLTD

We'd point out that there was no major changes to their price target of CN¥36.05, suggesting the latest estimates were not enough to shift their view on the value of the business.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 22% by the end of 2024. This indicates a significant reduction from annual growth of 39% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 17% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Beijing Easpring Material TechnologyLTD is expected to lag the wider 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 anticipating slower revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Beijing Easpring Material TechnologyLTD.

Unanswered questions? At least one of Beijing Easpring Material TechnologyLTD's 13 analysts has provided estimates out to 2026, which can be seen for 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 with high insider ownership.

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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.