Yahoo Finance One Analyst's Earnings Estimates For Firan Technology Group Corporation (TSE:FTG) Are Surging Higher
Firan Technology Group Corporation (TSE:FTG) shareholders will have a reason to smile today, with the covering analyst making substantial upgrades to next year's forecasts. The analyst greatly increased their revenue estimates, suggesting a stark improvement in business fundamentals.
After the upgrade, the solitary analyst covering Firan Technology Group is now predicting revenues of CA$126m in 2023. If met, this would reflect a substantial 46% improvement in sales compared to the last 12 months. The losses are expected to disappear over the next year or so, with forecasts for a profit of CA$0.23 per share next year. Before this latest update, the analyst had been forecasting revenues of CA$106m and earnings per share (EPS) of CA$0.13 in 2023. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.
See our latest analysis for Firan Technology Group
With these upgrades, we're not surprised to see that the analyst has lifted their price target 25% to CA$3.50 per share.
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. One thing stands out from these estimates, which is that Firan Technology Group is forecast to grow faster in the future than it has in the past, with revenues expected to display 35% annualised growth until the end of 2023. If achieved, this would be a much better result than the 4.1% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 12% annually. So it looks like Firan Technology Group is expected to grow faster than its competitors, at least for a while.
The Bottom Line
The biggest takeaway for us from these new estimates is that the analyst upgraded their earnings per share estimates, with improved earnings power expected for next year. Fortunately, the analyst also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. With a serious upgrade to expectations and a rising price target, it might be time to take another look at Firan Technology Group.
Still, the long-term prospects of the business are much more relevant than next year's earnings. We have analyst estimates for Firan Technology Group going out as far as 2024, 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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