News Flash: One Sparebank 68° Nord (OB:SB68) Analyst Has Been Trimming Their Revenue Forecasts

Market forces rained on the parade of Sparebank 68° Nord (OB:SB68) shareholders today, when the covering analyst downgraded their forecasts for this year. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative.

Following the latest downgrade, the solo analyst covering Sparebank 68° Nord provided consensus estimates of kr297m revenue in 2024, which would reflect a perceptible 6.2% decline on its sales over the past 12 months. Prior to the latest estimates, the analyst was forecasting revenues of kr338m in 2024. The consensus view seems to have become more pessimistic on Sparebank 68° Nord, noting the substantial drop in revenue estimates in this update.

See our latest analysis for Sparebank 68° Nord

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Sparebank 68° Nord's past performance and to peers in the same industry. We would highlight that sales are expected to reverse, with a forecast 12% annualised revenue decline to the end of 2024. That is a notable change from historical growth of 18% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 0.8% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Sparebank 68° Nord is expected to lag the wider industry.

The Bottom Line

The most important thing to take away is that the analyst cut their revenue estimates for this year. They also expect company revenue to perform worse than the wider market. Given the stark change in sentiment, we'd understand if investors became more cautious on Sparebank 68° Nord after today.

Still got questions? We have forecasts for Sparebank 68° Nord from one covering analyst, 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 downgrading their estimates. So you may also wish to search this free list of stocks with high insider ownership.

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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.