Upgrade: The Latest Revenue Forecasts For Global New Material International Holdings Limited (HKG:6616)

Shareholders in Global New Material International Holdings Limited (HKG:6616) may be thrilled to learn that the covering analyst has just delivered a major upgrade to their near-term forecasts. The analyst has sharply increased their revenue numbers, with a view that Global New Material International Holdings will make substantially more sales than they'd previously expected.

After the upgrade, the sole analyst covering Global New Material International Holdings is now predicting revenues of CN¥1.3b in 2023. If met, this would reflect a sizeable 40% improvement in sales compared to the last 12 months. Before the latest update, the analyst was foreseeing CN¥1.1b of revenue in 2023. It looks like there's been a clear increase in optimism around Global New Material International Holdings, given the nice increase in revenue forecasts.

See our latest analysis for Global New Material International Holdings

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Global New Material International Holdings' past performance and to peers in the same industry. The analyst is definitely expecting Global New Material International Holdings' growth to accelerate, with the forecast 40% annualised growth to the end of 2023 ranking favourably alongside historical growth of 21% per annum over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 4.0% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analyst also expect Global New Material International Holdings to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that the analyst lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. Given that the analyst appears to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Global New Material International Holdings.

Of course, there's always more to the story. We have estimates for Global New Material International Holdings until 2025 from one covering analyst, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.