New Forecasts: Here's What Analysts Think The Future Holds For Econpile Holdings Berhad (KLSE:ECONBHD)

Shareholders in Econpile Holdings Berhad (KLSE:ECONBHD) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

After the upgrade, the consensus from Econpile Holdings Berhad's three analysts is for revenues of RM409m in 2024, which would reflect a noticeable 5.3% decline in sales compared to the last year of performance. Before the latest update, the analysts were foreseeing RM368m of revenue in 2024. The consensus has definitely become more optimistic, showing a nice increase in revenue forecasts.

Check out our latest analysis for Econpile Holdings Berhad

Additionally, the consensus price target for Econpile Holdings Berhad increased 14% to RM0.56, showing a clear increase in optimism from the analysts involved.

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. We would also point out that the forecast 6.9% annualised revenue decline to the end of 2024 is better than the historical trend, which saw revenues shrink 10% annually over the past five years By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 9.4% per year. So it's pretty clear that, while it does have declining revenues, the analysts also expect Econpile Holdings Berhad to suffer worse than the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Econpile Holdings Berhad this year. They're also anticipating slower revenue growth than the wider market. There was also a nice increase in the price target, with analysts apparently feeling that the intrinsic value of the business is improving. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Econpile Holdings Berhad.

Want more information? We have analyst estimates for Econpile Holdings Berhad going out to 2026, and you can see them free on our platform here.

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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.