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Maxis Berhad (KLSE:MAXIS) investors will be delighted, with the company turning in some strong numbers with its latest results. It was overall a positive result, with revenues beating expectations by 5.5% to hit RM2.6b. Maxis Berhad also reported a statutory profit of RM0.045, which was an impressive 24% above what the analysts had forecast. 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. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
See our latest analysis for Maxis Berhad
Taking into account the latest results, Maxis Berhad's 20 analysts currently expect revenues in 2024 to be RM10.4b, approximately in line with the last 12 months. Per-share earnings are expected to bounce 36% to RM0.18. Before this earnings report, the analysts had been forecasting revenues of RM10.3b and earnings per share (EPS) of RM0.18 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at RM4.03. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Maxis Berhad, with the most bullish analyst valuing it at RM5.60 and the most bearish at RM3.20 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
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. It's pretty clear that there is an expectation that Maxis Berhad's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 1.5% growth on an annualised basis. This is compared to a historical growth rate of 2.2% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 5.1% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Maxis Berhad.