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As you might know, Mapletree Industrial Trust (SGX:ME8U) recently reported its quarterly numbers. The result was positive overall - although revenues of S$103m were in line with what analysts predicted, Mapletree Industrial Trust surprised by delivering a statutory profit of S$0.032 per share, modestly greater than expected. This is an important time for investors, as they can track a company's performance in its report, look at what top analysts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see analysts' latest (statutory) post-earnings forecasts for next year.
View our latest analysis for Mapletree Industrial Trust
Taking into account the latest results, the most recent consensus for Mapletree Industrial Trust from 13 analysts is for revenues of S$412.7m in 2021, which is a reasonable 2.4% increase on its sales over the past 12 months. Statutory earnings per share are expected to dip 7.6% to S$0.13 in the same period. Yet prior to the latest earnings, analysts had been forecasting revenues of S$413.4m and earnings per share (EPS) of S$0.14 in 2021. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
Analysts reconfirmed their price target of S$2.62, showing that the business is executing well and in line with expectations. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Mapletree Industrial Trust, with the most bullish analyst valuing it at S$3.05 and the most bearish at S$2.00 per share. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Mapletree Industrial Trust shareholders.
It can be useful to take a broader overview by seeing how analyst forecasts compare, both to the Mapletree Industrial Trust's past performance and to peers in the same market. It's pretty clear that analysts expect Mapletree Industrial Trust's revenue growth will slow down substantially, with revenues next year expected to grow 2.4%, compared to a historical growth rate of 4.8% over the past five years. Compare this against other companies (with analyst forecasts) in the market, which are in aggregate expected to see revenue growth of 6.2% next year. Factoring in the forecast slowdown in growth, it seems obvious that analysts still expect Mapletree Industrial Trust to grow slower than the wider market.