Industry analysts have significantly upgraded revenue forecasts for Montage Technology Co., Ltd. (SHSE:688008)

The celebration Montage Technology Co., Ltd. (SHSE:688008) shareholders, the analysts have significantly increased their statutory forecasts for the company, with consensus revenue estimates rising and analysts clearly becoming much more bullish on the company’s business prospects.

Following the upgrade, the latest consensus from Montage Technology’s 15 analysts is for revenues of RMB4.8b in 2024, reflecting a significant 83% increase in sales compared to the last 12 months. Earnings per share are expected to rise 100% to RMB1.16. Prior to this update, analysts had been forecasting revenues of RMB3.9b and earnings per share (EPS) of RMB1.15 in 2024. Analyst sentiment seems firmly bullish on revenues, despite no change to their view on earnings per share.

View our latest analysis for Montage Technology

Another way to look at these forecasts is in the context of the bigger picture, including how the forecasts compare to past performance and whether the forecasts are bullish relative to other companies in the industry. From the latest forecasts, we can see that Montage Technology’s growth rate is expected to accelerate significantly, with annualized revenue growth projected to be 124% through the end of 2024, significantly faster than the historical growth rate of 12% per year over the past five years. Compare this to other companies in the same industry, which are projected to have revenue growth of 22% per year. When considering the revenue acceleration forecast, it’s clear that Montage Technology is expected to grow much faster than the industry.

Conclusion

Most importantly, there’s been no major change in sentiment. Analysts have reaffirmed that earnings per share are still expected to perform in line with previous expectations. They’ve also raised their revenue forecasts for this year, with sales now expected to grow at a faster pace than the overall market. Given the large increases to their forecasts for this year, it may be time to take another look at Montage Technology.

Yet the long term outlook for the business is far more important than next year’s earnings, and at Simply Wall St we have all of the analyst forecasts for Montage Technology out to 2026, and you can see them free on our platform.

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This article by Simply Wall St is general in nature. We use only unbiased methodologies to provide commentary based on historical data and analyst forecasts, and our articles are not intended as financial advice. It is not a recommendation to buy or sell stocks, and does not take into account your objectives, or your financial situation. We seek to provide long-term focused analysis driven by fundamental data. Note that our analysis may not take into account the latest price sensitive company announcements or qualitative material. Simply Wall St has no position in any of the stocks mentioned.

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