Analysts Are Betting On China Pacific Insurance (Group) Co., Ltd. (SHSE:601601) With A Big Upgrade This Week

Shareholders in China Pacific Insurance (Group) Co., Ltd. (SHSE:601601) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The analysts have sharply increased their revenue numbers, with a view that China Pacific Insurance (Group) will make substantially more sales than they'd previously expected.

Following the upgrade, the current consensus from China Pacific Insurance (Group)'s eleven analysts is for revenues of CN¥369b in 2024 which - if met - would reflect a substantial 34% increase on its sales over the past 12 months. Before the latest update, the analysts were foreseeing CN¥307b of revenue in 2024. The consensus has definitely become more optimistic, showing a considerable lift to revenue forecasts.

Check out our latest analysis for China Pacific Insurance (Group)

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. One thing stands out from these estimates, which is that China Pacific Insurance (Group) is forecast to grow faster in the future than it has in the past, with revenues expected to display 34% annualised growth until the end of 2024. If achieved, this would be a much better result than the 0.2% annual decline over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 0.8% per year. Not only are China Pacific Insurance (Group)'s revenues expected to improve, it seems that the analysts are also expecting it to grow faster than 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 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 China Pacific Insurance (Group).

Need some more information? At least one of China Pacific Insurance (Group)'s eleven 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 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.