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As you might know, Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd (SZSE:300092) recently reported its yearly numbers. Results were roughly in line with estimates, with revenues of CN¥1.5b and statutory earnings per share of CN¥0.61. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
Check out our latest analysis for Sichuan Kexin Mechanical and Electrical EquipmentLtd
After the latest results, the twin analysts covering Sichuan Kexin Mechanical and Electrical EquipmentLtd are now predicting revenues of CN¥1.78b in 2024. If met, this would reflect a notable 19% improvement in revenue compared to the last 12 months. Per-share earnings are expected to step up 17% to CN¥0.70. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥1.97b and earnings per share (EPS) of CN¥0.84 in 2024. The analysts seem less optimistic after the recent results, reducing their revenue forecasts and making a real cut to earnings per share numbers.
The consensus price target fell 10% to CN¥12.90, with the weaker earnings outlook clearly leading valuation estimates.
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Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 19% growth on an annualised basis. That is in line with its 21% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 19% annually. So although Sichuan Kexin Mechanical and Electrical EquipmentLtd is expected to maintain its revenue growth rate, it's only growing at about the rate of the wider industry.
The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Sadly, they also downgraded their revenue forecasts, but the business is still expected to grow at roughly the same rate as the industry itself. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At least one analyst has provided forecasts out to 2025, which can be seen for free on our platform here.
However, before you get too enthused, we've discovered 2 warning signs for Sichuan Kexin Mechanical and Electrical EquipmentLtd (1 is significant!) that you should be aware of.
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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.
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