As you might know, CITIC Telecom International Holdings Limited (HKG:1883) last week released its latest full-year, and things did not turn out so great for shareholders. Results look to have been somewhat negative - revenue fell 5.5% short of analyst estimates at HK$10.0b, and statutory earnings of HK$0.33 per share missed forecasts by 3.5%. 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 collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
Taking into account the latest results, the two analysts covering CITIC Telecom International Holdings provided consensus estimates of HK$9.54b revenue in 2024, which would reflect a perceptible 4.5% decline over the past 12 months. Statutory earnings per share are forecast to decrease 9.4% to HK$0.30 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of HK$10.8b and earnings per share (EPS) of HK$0.36 in 2024. It looks like sentiment has declined substantially in the aftermath of these results, with a substantial drop in revenue estimates and a substantial drop in earnings per share numbers as well.
It'll come as no surprise then, to learn that the analysts have cut their price target 15% to HK$3.38.
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. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 4.5% by the end of 2024. This indicates a significant reduction from annual growth of 2.9% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 4.6% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - CITIC Telecom International Holdings is expected to lag the wider 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. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have analyst estimates for CITIC Telecom International Holdings going out as far as 2026, and you can see them free on our platform here.
You can also view our analysis of CITIC Telecom International Holdings' balance sheet, and whether we think CITIC Telecom International Holdings is carrying too much debt, for free on our platform here.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. 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.
CITIC Telecom International Holdings Limited(HKG:1883)が先週最新の年次報告書を公表したことはご存知かと思いますが、株主にとって結果はあまりよくなかったようです。売上高はアナリストの見通しに対して5.5%のHK$10.0bに足りなく、株式当たり利益はHK$0.33で予測値を3.5%下回りました。その結果、アナリストたちは自分たちの収益モデルをアップデートしましたが、会社の見通しが大きく変わったか、否定なパターンかを把握するのは良いことです。つまり、我々は最新の投稿株主間相互見解の見通しの見直しを収集しました。
最新の結果を考慮に入れると、CITIC Telecom International Holdingsをカバーする2人のアナリストは、2024年に$9.54bの売上高の合意見通しを提供しており、過去12か月間にはわずか4.5%の低下を反映しています。株式当たり利益は、同期間にHK$0.30に9.4%減少すると予測されています。しかしながら、最新の決算報告書の前、アナリストたちは2024年にHK$10.8bの収益と株式当たり利益(EPS)HK$0.36を予測していました。これらの結果を見ると、今回の報告書後、株価予想は大幅に低下し、売上高の見積もりや株式当たり収益の数字も大幅に減少したようです。
それでは、アナリストたちが価格目標をHK$3.38に15%カットしたことは驚きではありません。
他の企業と比較して、予測が過去の業績に対してどのように積み重ねられているか、予測が業界の他の企業に比べてより強気なのか、対照的に強気買いが出るかどうかなど、より大きな画像の文脈でこれらの予測を見ることができます。これらの予測によると、売上高は2024年末には年率4.5%の減少が予想されており、過去5年間の年間成長率2.9%から大きく減少しています。これを他の業界全体から見ると、同じ業界の他の企業は年間4.6%の収益成長を見込んでいます。つまり、CITIC Telecom International Holdingsの収益は減少することが予想されていますが、この何もない雲には銀の裏地はありません。CITIC Telecom International Holdingsは業界全体よりも遅れることが予想されます。