Broker Revenue Forecasts For China Film Co., Ltd. (SHSE:600977) Are Surging Higher

China Film Co., Ltd. (SHSE:600977) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

After the upgrade, the six analysts covering China Film are now predicting revenues of CN¥6.6b in 2024. If met, this would reflect a major 35% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing CN¥5.9b of revenue in 2024. It looks like there's been a clear increase in optimism around China Film, given the decent improvement in revenue forecasts.

Check out our latest analysis for China Film

There was no particular change to the consensus price target of CN¥11.60, with China Film's latest outlook seemingly not enough to result in a change of valuation.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the China Film's past performance and to peers in the same industry. For example, we noticed that China Film's rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 49% growth to the end of 2024 on an annualised basis. That is well above its historical decline of 15% a year over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 15% annually. So it looks like China Film is expected to grow faster than its competitors, at least for a while.

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. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at China Film.

Hungry for more information? We have analyst estimates for China Film going out to 2026, and you can see them 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 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.