New Forecasts: Here's What Analysts Think The Future Holds For ACWA POWER Company (TADAWUL:2082)

Celebrations may be in order for ACWA POWER Company (TADAWUL:2082) 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 ACWA POWER will make substantially more sales than they'd previously expected.

Following the upgrade, the most recent consensus for ACWA POWER from its three analysts is for revenues of ر.س7.2b in 2023 which, if met, would be a sizeable 29% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of ر.س6.2b in 2023. The consensus has definitely become more optimistic, showing a substantial gain in revenue forecasts.

View our latest analysis for ACWA POWER

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the ACWA POWER's past performance and to peers in the same industry. The analysts are definitely expecting ACWA POWER's growth to accelerate, with the forecast 66% annualised growth to the end of 2023 ranking favourably alongside historical growth of 4.2% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 12% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect ACWA POWER to grow faster than the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for ACWA POWER this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at ACWA POWER.

But wait - there's more! At least one of ACWA POWER's three 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.