Broker Revenue Forecasts For Citizens & Northern Corporation (NASDAQ:CZNC) Are Surging Higher

Celebrations may be in order for Citizens & Northern Corporation (NASDAQ:CZNC) shareholders, with the covering analyst delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for this year has experienced a facelift, with the analyst now much more optimistic on its sales pipeline.

After this upgrade, Citizens & Northern's single analyst is now forecasting revenues of US$115m in 2021. This would be a huge 31% improvement in sales compared to the last 12 months. Per-share earnings are expected to surge 35% to US$1.75. Previously, the analyst had been modelling revenues of US$101m and earnings per share (EPS) of US$1.62 in 2021. The forecasts seem more optimistic now, with a nice increase in revenue and a slight bump in earnings per share estimates.

View our latest analysis for Citizens & Northern

It will come as no surprise to learn that the analyst has increased their price target for Citizens & Northern 17% to US$27.00 on the back of these upgrades.

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that Citizens & Northern's rate of growth is expected to accelerate meaningfully, with the forecast 31% annualised revenue growth to the end of 2021 noticeably faster than its historical growth of 8.5% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 7.5% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Citizens & Northern is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that the analyst upgraded their earnings per share estimates for this year, expecting improving business conditions. Fortunately, the analyst also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. There was also an increase in the price target, suggesting that there is more optimism baked into the forecasts than there was previously. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Citizens & Northern.

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 2022, 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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