Analysts Are Betting On TRC Synergy Berhad (KLSE:TRC) With A Big Upgrade This Week

Celebrations may be in order for TRC Synergy Berhad (KLSE:TRC) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that TRC Synergy Berhad will make substantially more sales than they'd previously expected.

Following the latest upgrade, the current consensus, from the dual analysts covering TRC Synergy Berhad, is for revenues of RM686m in 2023, which would reflect a perceptible 3.5% reduction in TRC Synergy Berhad's sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of RM616m in 2023. The consensus has definitely become more optimistic, showing a solid increase in revenue forecasts.

See our latest analysis for TRC Synergy Berhad

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the TRC Synergy Berhad's past performance and to peers in the same industry. Over the past five years, revenues have declined around 1.5% annually. Worse, forecasts are essentially predicting the decline to accelerate, with the estimate for an annualised 3.5% decline in revenue until the end of 2023. Compare this against analyst estimates for companies in the broader industry, which suggest that revenues (in aggregate) are expected to grow 11% annually. So it's pretty clear that, while it does have declining revenues, the analysts also expect TRC Synergy Berhad to suffer worse than 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 TRC Synergy Berhad.

Looking for more information? At least one of TRC Synergy Berhad's dual analysts has provided estimates out to 2025, which can be seen for 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.

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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.