It's been a good week for Frontage Holdings Corporation (HKG:1521) shareholders, because the company has just released its latest interim results, and the shares gained 5.0% to HK$2.52. It looks like a pretty bad result, all things considered. Although revenues of US$119m were in line with analyst predictions, statutory earnings fell badly short, missing estimates by 39% to hit US$0.0061 per share. 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. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
Check out our latest analysis for Frontage Holdings
SEHK:1521 Earnings and Revenue Growth August 28th 2022
Following the latest results, Frontage Holdings' seven analysts are now forecasting revenues of US$258.7m in 2022. This would be a solid 19% improvement in sales compared to the last 12 months. Statutory per share are forecast to be US$0.011, approximately in line with the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of US$249.1m and earnings per share (EPS) of US$0.012 in 2022. Overall it looks as though the analysts were a bit mixed on the latest results. Although there was a a solid to revenue, the consensus also made a minor downgrade to its earnings per share forecasts.
The consensus price target was unchanged at HK$4.55, suggesting the business is performing roughly in line with expectations, despite some adjustments to profit and revenue forecasts. 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 Frontage Holdings analyst has a price target of HK$6.50 per share, while the most pessimistic values it at HK$3.30. We would probably assign less value to the analyst forecasts in this situation, because such a wide range of estimates could imply that the future of this business is difficult to value accurately. With this in mind, we wouldn't rely too heavily the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Frontage Holdings' past performance and to peers in the same industry. The analysts are definitely expecting Frontage Holdings' growth to accelerate, with the forecast 40% annualised growth to the end of 2022 ranking favourably alongside historical growth of 31% per annum over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 21% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Frontage Holdings is expected to grow much faster than its industry.
The Bottom Line
The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Frontage Holdings analysts - going out to 2024, and you can see them free on our platform here.
We also provide an overview of the Frontage Holdings Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.
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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.
这是很好的一周临街控股公司(HKG:1521)股东,因为公司刚刚公布最新的中期业绩,股价上涨5.0%,至2.52港元。综上所述,这看起来是一个相当糟糕的结果。尽管1.19亿美元的收入符合分析师的预测,但法定收益远远低于预期,比预期低39%,达到每股0.0061美元。对于投资者来说,这是一个重要的时刻,因为他们可以在公司的报告中跟踪公司的表现,查看专家对明年的预测,以及对业务的预期是否有任何变化。我们收集了最新的法定预测,看看分析师是否在这些结果之后改变了他们的盈利模型。
查看我们对Fronage Holdings的最新分析
联交所:2022年8月28日盈利及收入增长1521
根据最新的业绩,Fronage Holdings的七位分析师现在预测,2022年的营收将达到2.587亿美元。与过去12个月相比,这将是销售额稳定增长19%。预计每股法定收益为0.011美元,与过去12个月基本一致。在本报告发布前,分析师们一直在预测2022年的营收为2.491亿美元,每股收益为0.012美元。总体而言,分析师们似乎对最新的结果有点含混不清。尽管营收表现强劲,但共识也小幅下调了每股收益预期。
一致的目标价维持在4.55港元不变,表明该业务的表现大致符合预期,尽管对利润和收入预期进行了一些调整。看看分析师估计的范围,评估异常值与平均值的差异也可能是有启发意义的。最乐观的前锋控股分析师的目标价为每股6.5港元,而最悲观的分析师则认为目标价为3.3港元。在这种情况下,我们可能会对分析师的预测给予较低的价值,因为如此广泛的估计范围可能意味着,这项业务的未来很难准确估值。考虑到这一点,我们不会过于依赖共识目标价,因为这只是一个平均值,分析师显然对该业务有一些严重的分歧。
这些估计很有趣,但在观察预测与Fronage Holdings过去的表现以及与同行业同行的比较时,勾勒出一些更宽泛的笔触可能会很有用。分析师们肯定预计Fronage Holdings的增长将加快,截至2022年底的预测年化增长率为40%,与过去三年31%的历史年增长率相比,表现良好。相比之下,我们的数据显示,类似行业的其他公司(有分析师覆盖)的收入预计将以每年21%的速度增长。考虑到营收的预期加速增长,很明显,Fronage Holdings的增长速度预计将远远快于其行业。
底线
最重要的是,分析师们下调了他们的每股收益预期,表明业绩公布后,市场人气明显下降。令人高兴的是,他们还上调了收入预期,他们的预测表明,该业务的增长速度预计将快于整个行业。共识目标价没有实际变化,这表明根据最新估计,该业务的内在价值没有发生任何重大变化。
话虽如此,该公司盈利的长期轨迹比明年重要得多。我们对2024年的预测--来自多家临街控股的分析师--可以在我们的平台上免费看到。
我们还提供了前置控股董事会和首席执行官的薪酬和在公司的任期,以及内部人士是否一直在购买股票的概述。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。