New Forecasts: Here's What Analysts Think The Future Holds For CSC Financial Co., Ltd. (HKG:6066)

CSC Financial Co., Ltd. (HKG:6066) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline. The market seems to be pricing in some improvement in the business too, with the stock up 6.1% over the past week, closing at HK$7.87. Whether the upgrade is enough to drive the stock price higher is yet to be seen, however.

Following the upgrade, the latest consensus from CSC Financial's four analysts is for revenues of CN¥40b in 2022, which would reflect a sizeable 25% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing CN¥32b of revenue in 2022. It looks like there's been a clear increase in optimism around CSC Financial, given the chunky increase in revenue forecasts.

See our latest analysis for CSC Financial

Of course, another way to look at these forecasts is to place them into context against the industry itself. The period to the end of 2022 brings more of the same, according to the analysts, with revenue forecast to display 25% growth on an annualised basis. That is in line with its 21% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 13% annually. So it's pretty clear that CSC Financial is forecast to grow substantially faster than its industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for CSC Financial this year. They're also forecasting more rapid revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at CSC Financial.

Want to learn more? We have analyst estimates for CSC Financial going out to 2024, 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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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.