Anji Microelectronics Technology (Shanghai) Co., Ltd. (SHSE:688019) Annual Results: Here's What Analysts Are Forecasting For This Year

Shareholders might have noticed that Anji Microelectronics Technology (Shanghai) Co., Ltd. (SHSE:688019) filed its yearly result this time last week. The early response was not positive, with shares down 2.9% to CN¥141 in the past week. Revenues of CN¥1.2b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at CN¥3.99, missing estimates by 2.6%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Anji Microelectronics Technology (Shanghai) after the latest results.

Check out our latest analysis for Anji Microelectronics Technology (Shanghai)

Taking into account the latest results, the consensus forecast from Anji Microelectronics Technology (Shanghai)'s seven analysts is for revenues of CN¥1.65b in 2024. This reflects a substantial 33% improvement in revenue compared to the last 12 months. Per-share earnings are expected to shoot up 22% to CN¥4.76. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥1.69b and earnings per share (EPS) of CN¥4.95 in 2024. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.

The analysts made no major changes to their price target of CN¥176, suggesting the downgrades are not expected to have a long-term impact on Anji Microelectronics Technology (Shanghai)'s valuation. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Anji Microelectronics Technology (Shanghai) analyst has a price target of CN¥191 per share, while the most pessimistic values it at CN¥157. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting Anji Microelectronics Technology (Shanghai) is an easy business to forecast or the the analysts are all using similar assumptions.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We can infer from the latest estimates that forecasts expect a continuation of Anji Microelectronics Technology (Shanghai)'shistorical trends, as the 33% annualised revenue growth to the end of 2024 is roughly in line with the 35% annual growth 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 revenues grow 24% per year. So although Anji Microelectronics Technology (Shanghai) is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. They also downgraded Anji Microelectronics Technology (Shanghai)'s revenue estimates, but industry data suggests that it is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Anji Microelectronics Technology (Shanghai). Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Anji Microelectronics Technology (Shanghai) going out to 2025, and you can see them free on our platform here..

It is also worth noting that we have found 1 warning sign for Anji Microelectronics Technology (Shanghai) that you need to take into consideration.

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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.