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It's been a good week for Scientex Berhad (KLSE:SCIENTX) shareholders, because the company has just released its latest first-quarter results, and the shares gained 8.1% to RM4.13. Results overall were respectable, with statutory earnings of RM0.28 per share roughly in line with what the analysts had forecast. Revenues of RM1.1b came in 7.4% ahead of analyst predictions. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
Check out our latest analysis for Scientex Berhad
Following the latest results, Scientex Berhad's seven analysts are now forecasting revenues of RM4.54b in 2024. This would be a modest 6.4% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to accumulate 9.7% to RM0.36. Yet prior to the latest earnings, the analysts had been anticipated revenues of RM4.54b and earnings per share (EPS) of RM0.35 in 2024. 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.
There were no changes to revenue or earnings estimates or the price target of RM4.12, suggesting that the company has met expectations in its recent result. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Scientex Berhad analyst has a price target of RM4.58 per share, while the most pessimistic values it at RM3.68. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's clear from the latest estimates that Scientex Berhad's rate of growth is expected to accelerate meaningfully, with the forecast 8.6% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 6.6% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 5.2% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Scientex Berhad to grow faster than the wider industry.