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CSE Global Limited (SGX:544) just released its full-year report and things are looking bullish. Results were good overall, with revenues beating analyst predictions by 5.6% to hit S$725m. Statutory earnings per share (EPS) came in at S$0.037, some 5.6% above whatthe analysts had expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on CSE Global after the latest results.
Check out our latest analysis for CSE Global
Taking into account the latest results, the current consensus from CSE Global's three analysts is for revenues of S$826.3m in 2024. This would reflect a decent 14% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to climb 19% to S$0.043. In the lead-up to this report, the analysts had been modelling revenues of S$786.9m and earnings per share (EPS) of S$0.044 in 2024. So it looks like there's been no major change in sentiment following the latest results, although the analysts have made a small increase to to revenue forecasts.
Even though revenue forecasts increased, there was no change to the consensus price target of S$0.63, suggesting the analysts are focused on earnings as the driver of value creation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on CSE Global, with the most bullish analyst valuing it at S$0.71 and the most bearish at S$0.57 per share. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting CSE Global is an easy business to forecast or the the analysts are all using similar assumptions.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The analysts are definitely expecting CSE Global's growth to accelerate, with the forecast 14% annualised growth to the end of 2024 ranking favourably alongside historical growth of 11% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 8.9% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that CSE Global is expected to grow much faster than its industry.