Analysts' Revenue Estimates For Momentum Group AB (publ) (STO:MMGR B) Are Surging Higher

Momentum Group AB (publ) (STO:MMGR B) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Momentum Group will make substantially more sales than they'd previously expected.

After this upgrade, Momentum Group's twin analysts are now forecasting revenues of kr2.3b in 2023. This would be a decent 16% improvement in sales compared to the last 12 months. Statutory earnings per share are presumed to bounce 22% to kr3.92. Before this latest update, the analysts had been forecasting revenues of kr2.0b and earnings per share (EPS) of kr3.59 in 2023. Sentiment certainly seems to have improved in recent times, with a decent improvement in revenue and a small increase to earnings per share estimates.

Check out our latest analysis for Momentum Group

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Momentum Group's past performance and to peers in the same industry. The analysts are definitely expecting Momentum Group's growth to accelerate, with the forecast 35% annualised growth to the end of 2023 ranking favourably alongside historical growth of 22% per annum over the past year. Compare this with other companies in the same industry, which are forecast to grow their revenue 9.4% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Momentum Group is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Momentum Group.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At least one analyst has provided forecasts out to 2025, which can be seen for free on our platform here.

We also provide an overview of the Momentum Group 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.