Analysts' Revenue Estimates For Shenzhen Overseas Chinese Town Co.,Ltd. (SZSE:000069) Are Surging Higher

Celebrations may be in order for Shenzhen Overseas Chinese Town Co.,Ltd. (SZSE:000069) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. Investor sentiment seems to be improving too, with the share price up 5.2% to CN¥2.64 over the past 7 days. It will be interesting to see if this latest upgrade is enough to kickstart further buying interest in the stock.

Following the upgrade, the latest consensus from Shenzhen Overseas Chinese TownLtd's five analysts is for revenues of CN¥67b in 2024, which would reflect a solid 16% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CN¥54b in 2024. The consensus has definitely become more optimistic, showing a great increase in revenue forecasts.

View our latest analysis for Shenzhen Overseas Chinese TownLtd

We'd point out that there was no major changes to their price target of CN¥3.17, suggesting the latest estimates were not enough to shift their view on the value of the business.

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. It's clear from the latest estimates that Shenzhen Overseas Chinese TownLtd's rate of growth is expected to accelerate meaningfully, with the forecast 22% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 6.1% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 3.5% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Shenzhen Overseas Chinese TownLtd to grow faster than the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Shenzhen Overseas Chinese TownLtd this year. Analysts also expect revenues to grow faster than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Shenzhen Overseas Chinese TownLtd.

Hungry for more information? At least one of Shenzhen Overseas Chinese TownLtd's five 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 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.