Yahoo Finance Industry Analysts Just Upgraded Their Boralex Inc. (TSE:BLX) Revenue Forecasts By 10%
Boralex Inc. (TSE:BLX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.
After the upgrade, the eight analysts covering Boralex are now predicting revenues of CA$933m in 2023. If met, this would reflect a solid 12% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CA$846m in 2023. It looks like there's been a clear increase in optimism around Boralex, given the nice increase in revenue forecasts.
View our latest analysis for Boralex
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Boralex's past performance and to peers in the same industry. The analysts are definitely expecting Boralex's growth to accelerate, with the forecast 16% annualised growth to the end of 2023 ranking favourably alongside historical growth of 12% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 2.6% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Boralex 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. They're also forecasting more rapid 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 Boralex.
Unsatisfied? We have analyst estimates for Boralex going out to 2025, and you can see them 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.
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