Shenzhen New Industries Biomedical Engineering Co., Ltd. (SZSE:300832) Just Released Its Second-Quarter Results And Analysts Are Updating Their Estimates

The quarterly results for Shenzhen New Industries Biomedical Engineering Co., Ltd. (SZSE:300832) were released last week, making it a good time to revisit its performance. Results were roughly in line with estimates, with revenues of CN¥1.2b and statutory earnings per share of CN¥0.61. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

View our latest analysis for Shenzhen New Industries Biomedical Engineering

After the latest results, the 13 analysts covering Shenzhen New Industries Biomedical Engineering are now predicting revenues of CN¥4.88b in 2024. If met, this would reflect a decent 14% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to expand 13% to CN¥2.60. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥4.91b and earnings per share (EPS) of CN¥2.62 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at CN¥83.22. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Shenzhen New Industries Biomedical Engineering analyst has a price target of CN¥95.86 per share, while the most pessimistic values it at CN¥73.73. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that Shenzhen New Industries Biomedical Engineering's rate of growth is expected to accelerate meaningfully, with the forecast 30% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 20% p.a. over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 19% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Shenzhen New Industries Biomedical Engineering is expected to grow much faster than its industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at CN¥83.22, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Shenzhen New Industries Biomedical Engineering going out to 2026, and you can see them free on our platform here.

You still need to take note of risks, for example - Shenzhen New Industries Biomedical Engineering has 1 warning sign we think you should be aware of.

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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.