Analysts Just Shipped A Captivating Upgrade To Their Par Pacific Holdings, Inc. (NYSE:PARR) Estimates

Par Pacific Holdings, Inc. (NYSE:PARR) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with analysts modelling a real improvement in business performance.

Following the latest upgrade, Par Pacific Holdings' five analysts currently expect revenues in 2023 to be US$7.6b, approximately in line with the last 12 months. Statutory earnings per share are supposed to dive 50% to US$6.00 in the same period. Before this latest update, the analysts had been forecasting revenues of US$6.7b and earnings per share (EPS) of US$5.41 in 2023. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.

See our latest analysis for Par Pacific Holdings

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Par Pacific Holdings' past performance and to peers in the same industry. We would highlight that sales are expected to reverse, with a forecast 0.4% annualised revenue decline to the end of 2023. That is a notable change from historical growth of 15% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue decline 3.9% annually for the foreseeable future. The forecasts do look comparatively optimistic for Par Pacific Holdings, since they're expecting it to shrink slower than the 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, they also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. More bullish expectations could be a signal for investors to take a closer look at Par Pacific Holdings.

Analysts are definitely bullish on Par Pacific Holdings, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including recent substantial insider selling. For more information, you can click through to our platform to learn more about this and the 1 other flag we've identified .

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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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.