Industry Analysts Just Made A Massive Upgrade To Their Finance of America Companies Inc. (NYSE:FOA) Revenue Forecasts

Celebrations may be in order for Finance of America Companies Inc. (NYSE:FOA) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The revenue forecast for this year has experienced a facelift, with analysts now much more optimistic on its sales pipeline.

Following the upgrade, the latest consensus from Finance of America Companies' two analysts is for revenues of US$547m in 2024, which would reflect a huge 226% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$297m in 2024. It looks like there's been a clear increase in optimism around Finance of America Companies, given the chunky increase in revenue forecasts.

Check out our latest analysis for Finance of America Companies

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Finance of America Companies' past performance and to peers in the same industry. For example, we noticed that Finance of America Companies' rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 4x growth to the end of 2024 on an annualised basis. That is well above its historical decline of 95% a year over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 3.4% per year. So it looks like Finance of America Companies is expected to grow faster than its competitors, at least for a while.

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. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Finance of America Companies.

Looking to learn more? At least one of Finance of America Companies' two analysts has provided estimates out to 2026, 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 backed by insiders.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.