It's been a good week for Anji Microelectronics Technology (Shanghai) Co., Ltd. (SHSE:688019) shareholders, because the company has just released its latest full-year results, and the shares gained 7.3% to CN¥142. Revenues of CN¥1.2b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at CN¥3.99, missing estimates by 2.6%. 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.
Following the latest results, Anji Microelectronics Technology (Shanghai)'s six analysts are now forecasting revenues of CN¥1.63b in 2024. This would be a sizeable 32% improvement in revenue compared to the last 12 months. Per-share earnings are expected to grow 15% to CN¥4.69. In the lead-up to this report, the analysts had been modelling revenues of CN¥1.64b and earnings per share (EPS) of CN¥4.74 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at CN¥173. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Anji Microelectronics Technology (Shanghai) at CN¥191 per share, while the most bearish prices it at CN¥157. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We can infer from the latest estimates that forecasts expect a continuation of Anji Microelectronics Technology (Shanghai)'shistorical trends, as the 32% annualised revenue growth to the end of 2024 is roughly in line with the 35% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 23% annually. So although Anji Microelectronics Technology (Shanghai) is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at CN¥173, with the latest estimates not enough to have an impact on their price targets.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Anji Microelectronics Technology (Shanghai) going out to 2026, and you can see them free on our platform here..
It is also worth noting that we have found 1 warning sign for Anji Microelectronics Technology (Shanghai) that you need to take into consideration.
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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.