Growth Investors: Industry Analysts Just Upgraded Their Keyera Corp. (TSE:KEY) Revenue Forecasts By 10%

Keyera Corp. (TSE:KEY) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following this upgrade, Keyera's six analysts are forecasting 2024 revenues to be CA$7.1b, approximately in line with the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CA$6.4b in 2024. The consensus has definitely become more optimistic, showing a nice increase in revenue forecasts.

View our latest analysis for Keyera

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Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Keyera's revenue growth is expected to slow, with the forecast 0.2% annualised growth rate until the end of 2024 being well below the historical 16% 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 5.3% annually. Factoring in the forecast slowdown in growth, it seems obvious that Keyera is also expected to grow slower than other industry participants.

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 anticipating slower revenue growth 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 Keyera.

Analysts are definitely bullish on Keyera, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including the risk of cutting its dividend. For more information, you can click through to our platform to learn more about this and the 2 other concerns we've identified .

Another thing to consider is whether management and directors have been buying or selling stock recently. We provide an overview of all open market stock trades for the last twelve months on our platform, here.

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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.