Broker Revenue Forecasts For Unitil Corporation (NYSE:UTL) Are Surging Higher

Celebrations may be in order for Unitil Corporation (NYSE:UTL) 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 latest upgrade, Unitil's twin analysts currently expect revenues in 2023 to be US$595m, approximately in line with the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$526m in 2023. It looks like there's been a clear increase in optimism around Unitil, given the nice increase in revenue forecasts.

View our latest analysis for Unitil

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Unitil's revenue growth is expected to slow, with the forecast 0.9% annualised growth rate until the end of 2023 being well below the historical 5.5% p.a. growth over the last five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 2.3% annually. Factoring in the forecast slowdown in growth, it seems obvious that Unitil is also expected to grow slower than other industry participants.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Unitil this year. They also expect company revenue to perform worse than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Unitil.

Of course, there's always more to the story. At least one of Unitil's twin analysts has provided estimates out to 2025, 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 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.