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.
這是很好的一週臨街控股公司(HKG:1521)股東,因為公司剛剛公佈最新的中期業績,股價上漲5.0%,至2.52港元。綜上所述,這看起來是一個相當糟糕的結果。儘管1.19億美元的收入符合分析師的預測,但法定收益遠遠低於預期,比預期低39%,達到每股0.0061美元。對於投資者來説,這是一個重要的時刻,因為他們可以在公司的報告中跟蹤公司的表現,查看專家對明年的預測,以及對業務的預期是否有任何變化。我們收集了最新的法定預測,看看分析師是否在這些結果之後改變了他們的盈利模型。
查看我們對Fronage Holdings的最新分析
聯交所:2022年8月28日盈利及收入增長1521
根據最新的業績,Fronage Holdings的七位分析師現在預測,2022年的營收將達到2.587億美元。與過去12個月相比,這將是銷售額穩定增長19%。預計每股法定收益為0.011美元,與過去12個月基本一致。在本報告發布前,分析師們一直在預測2022年的營收為2.491億美元,每股收益為0.012美元。總體而言,分析師們似乎對最新的結果有點含混不清。儘管營收表現強勁,但共識也小幅下調了每股收益預期。
一致的目標價維持在4.55港元不變,表明該業務的表現大致符合預期,儘管對利潤和收入預期進行了一些調整。看看分析師估計的範圍,評估異常值與平均值的差異也可能是有啟發意義的。最樂觀的前鋒控股分析師的目標價為每股6.5港元,而最悲觀的分析師則認為目標價為3.3港元。在這種情況下,我們可能會對分析師的預測給予較低的價值,因為如此廣泛的估計範圍可能意味着,這項業務的未來很難準確估值。考慮到這一點,我們不會過於依賴共識目標價,因為這只是一個平均值,分析師顯然對該業務有一些嚴重的分歧。
這些估計很有趣,但在觀察預測與Fronage Holdings過去的表現以及與同行業同行的比較時,勾勒出一些更寬泛的筆觸可能會很有用。分析師們肯定預計Fronage Holdings的增長將加快,截至2022年底的預測年化增長率為40%,與過去三年31%的歷史年增長率相比,表現良好。相比之下,我們的數據顯示,類似行業的其他公司(有分析師覆蓋)的收入預計將以每年21%的速度增長。考慮到營收的預期加速增長,很明顯,Fronage Holdings的增長速度預計將遠遠快於其行業。
底線
最重要的是,分析師們下調了他們的每股收益預期,表明業績公佈後,市場人氣明顯下降。令人高興的是,他們還上調了收入預期,他們的預測表明,該業務的增長速度預計將快於整個行業。共識目標價沒有實際變化,這表明根據最新估計,該業務的內在價值沒有發生任何重大變化。
話雖如此,該公司盈利的長期軌跡比明年重要得多。我們對2024年的預測--來自多家臨街控股的分析師--可以在我們的平臺上免費看到。
我們還提供了前置控股董事會和首席執行官的薪酬和在公司的任期,以及內部人士是否一直在購買股票的概述。
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本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。