Industry Analysts Just Upgraded Their The Company for Cooperative Insurance (TADAWUL:8010) Revenue Forecasts By 28%

The Company for Cooperative Insurance (TADAWUL:8010) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the latest consensus from Company for Cooperative Insurance's two analysts is for revenues of ر.س16b in 2023, which would reflect a huge 27% improvement in sales compared to the last 12 months. Statutory earnings per share are supposed to reduce 7.6% to ر.س4.07 in the same period. Previously, the analysts had been modelling revenues of ر.س13b and earnings per share (EPS) of ر.س4.01 in 2023. It seems analyst sentiment has certainly become more bullish on revenues, even though they haven't changed their view on earnings per share.

Check out our latest analysis for Company for Cooperative Insurance

The consensus price target increased 7.0% to ر.س96.53, with an improved revenue forecast carrying the promise of a more valuable business, in time.

Of course, another way to look at these forecasts is to place them into context against the industry itself. The analysts are definitely expecting Company for Cooperative Insurance's growth to accelerate, with the forecast 38% annualised growth to the end of 2023 ranking favourably alongside historical growth of 9.4% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to see a revenue decline of 1.7% annually. It seems obvious that as part of the brighter growth outlook, Company for Cooperative Insurance is expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with analysts reconfirming that earnings per share are expected to continue performing in line with their prior expectations. On the plus side, they also lifted their revenue estimates, and the company is expected to perform better 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. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Company for Cooperative Insurance.

Even so, the longer term trajectory of the business is much more important for the value creation of shareholders. At least one analyst has provided forecasts out to 2025, which can be seen for 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.