New Forecasts: Here's What Analysts Think The Future Holds For Petronet LNG Limited (NSE:PETRONET)

Shareholders in Petronet LNG Limited (NSE:PETRONET) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The analysts have sharply increased their revenue numbers, with a view that Petronet LNG will make substantially more sales than they'd previously expected.

Following the upgrade, the latest consensus from Petronet LNG's five analysts is for revenues of ₹563b in 2023, which would reflect a huge 31% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing ₹487b of revenue in 2023. It looks like there's been a clear increase in optimism around Petronet LNG, given the decent improvement in revenue forecasts.

View our latest analysis for Petronet LNG

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's clear from the latest estimates that Petronet LNG's rate of growth is expected to accelerate meaningfully, with the forecast 31% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 3.7% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 9.4% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Petronet LNG is expected to grow much faster than its industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Petronet LNG this year. Analysts also expect revenues to grow faster than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Petronet LNG.

Of course, there's always more to the story. We have analyst estimates for Petronet LNG going out to 2025, 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.