Industry Analysts Just Upgraded Their JSC Halyk Bank (LON:HSBK) Revenue Forecasts By -13%

JSC Halyk Bank (LON:HSBK) 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.

Following the latest upgrade, JSC Halyk Bank's three analysts currently expect revenues in 2023 to be ₸1.0t, approximately in line with the last 12 months. Before the latest update, the analysts were foreseeing ₸1.2t of revenue in 2023. It looks like forecasts have become a fair bit less optimistic on JSC Halyk Bank, given the measurable cut to revenue estimates.

View our latest analysis for JSC Halyk Bank

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's pretty clear that there is an expectation that JSC Halyk Bank's revenue growth will slow down substantially, with revenues to the end of 2023 expected to display 1.3% growth on an annualised basis. This is compared to a historical growth rate of 17% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.3% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than JSC Halyk Bank.

The Bottom Line

The most important thing to take away is that analysts cut their revenue estimates for this year. They're also anticipating slower revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at JSC Halyk Bank.

Hungry for more information? At least one of JSC Halyk Bank's three analysts has provided estimates out to 2025, 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.