Need To Know: Analysts Are Much More Bullish On Eneti Inc. (NYSE:NETI) Revenues

Celebrations may be in order for Eneti Inc. (NYSE:NETI) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the latest consensus from Eneti's three analysts is for revenues of US$144m in 2022, which would reflect a sizeable 35% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing US$131m of revenue in 2022. It looks like there's been a clear increase in optimism around Eneti, given the substantial gain in revenue forecasts.

See our latest analysis for Eneti

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Eneti's growth to accelerate, with the forecast 50% annualised growth to the end of 2022 ranking favourably alongside historical growth of 0.5% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to see a revenue decline of 4.8% annually. It seems obvious that as part of the brighter growth outlook, Eneti is expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. The analysts also expect revenues 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 Eneti.

These earnings upgrades look like a sterling endorsement, but before diving in - you should know that we've spotted 2 potential concern with Eneti, including major dilution from new stock issuance in the past year. You can learn more, and discover the 1 other concern we've identified, 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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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.