Industry Analysts Just Upgraded Their Fawaz Abdulaziz Al Hokair & Company (TADAWUL:4240) Revenue Forecasts By 10%

Fawaz Abdulaziz Al Hokair & Company (TADAWUL:4240) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with analysts now much more optimistic on its sales pipeline.

Following the upgrade, the current consensus from Fawaz Abdulaziz Al Hokair's six analysts is for revenues of ر.س5.8b in 2024 which - if met - would reflect a solid 12% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of ر.س5.3b in 2024. The consensus has definitely become more optimistic, showing a nice gain to revenue forecasts.

Check out our latest analysis for Fawaz Abdulaziz Al Hokair

Of course, another way to look at these forecasts is to place them into context against the industry itself. The analysts are definitely expecting Fawaz Abdulaziz Al Hokair's growth to accelerate, with the forecast 16% annualised growth to the end of 2024 ranking favourably alongside historical growth of 3.2% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 9.6% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Fawaz Abdulaziz Al Hokair to grow faster 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're also forecasting more rapid revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Fawaz Abdulaziz Al Hokair.

These earnings upgrades look like a sterling endorsement, but before diving in - you should know that we've spotted 3 potential flags with Fawaz Abdulaziz Al Hokair, including a weak balance sheet. You can learn more, and discover the 2 other flags we've identified, for free on our platform here.

We also provide an overview of the Fawaz Abdulaziz Al Hokair Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, 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.