Need To Know: Analysts Are Much More Bullish On IG Design Group plc (LON:IGR) Revenues

Shareholders in IG Design Group plc (LON:IGR) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the consensus from four analysts covering IG Design Group is for revenues of US$659m in 2021, implying a considerable 14% decline in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$526m in 2021. It looks like there's been a clear increase in optimism around IG Design Group, given the sizeable gain to revenue forecasts.

Check out our latest analysis for IG Design Group

Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that sales are expected to slow, with a forecast revenue decline of 14%, a significant reduction from annual growth of 16% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 11% next year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - IG Design Group is expected to lag the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They also expect company revenue to perform worse than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at IG Design Group.

Hungry for more information? We have analyst estimates for IG Design Group going out to 2023, 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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