Analysts Just Shipped A Notable Upgrade To Their Beijing Enlight Media Co., Ltd. (SZSE:300251) Estimates

Beijing Enlight Media Co., Ltd. (SZSE:300251) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects.

Following this upgrade, Beijing Enlight Media's 13 analysts are forecasting 2024 revenues to be CN¥2.3b, approximately in line with the last 12 months. Statutory earnings per share are presumed to rise 2.5% to CN¥0.24. Before this latest update, the analysts had been forecasting revenues of CN¥2.1b and earnings per share (EPS) of CN¥0.21 in 2024. There has definitely been an improvement in perception recently, with the analysts substantially increasing both their earnings and revenue estimates.

Check out our latest analysis for Beijing Enlight Media

Although the analysts have upgraded their earnings estimates, there was no change to the consensus price target of CN¥9.30, suggesting that the forecast performance does not have a long term impact on the company's valuation.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Beijing Enlight Media's past performance and to peers in the same industry. We would also point out that the forecast 0.4% annualised revenue decline to the end of 2024 is better than the historical trend, which saw revenues shrink 11% annually over the past five years By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 14% per year. So it's pretty clear that, while it does have declining revenues, the analysts also expect Beijing Enlight Media to suffer worse than the wider industry.

The Bottom Line

The biggest takeaway for us from these new estimates is that analysts upgraded their earnings per share estimates, with improved earnings power expected for this year. Pleasantly, analysts also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow slower than the wider market. Some investors might be disappointed to see that the price target is unchanged, but we feel that improving fundamentals are usually a positive - assuming these forecasts are met! So Beijing Enlight Media could be a good candidate for more research.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Beijing Enlight Media going out to 2026, and you can see them 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.