ANTA Sports Products Limited (HKG:2020) Just Released Its Yearly Results And Analysts Are Updating Their Estimates
ANTA Sports Products Limited (HKG:2020) Just Released Its Yearly Results And Analysts Are Updating Their Estimates
Last week saw the newest yearly earnings release from ANTA Sports Products Limited (HKG:2020), an important milestone in the company's journey to build a stronger business. The result was positive overall - although revenues of CN¥62b were in line with what the analysts predicted, ANTA Sports Products surprised by delivering a statutory profit of CN¥3.60 per share, modestly greater than expected. 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. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
SEHK:2020 Earnings and Revenue Growth March 29th 2024
Taking into account the latest results, the current consensus from ANTA Sports Products' 37 analysts is for revenues of CN¥70.9b in 2024. This would reflect a notable 14% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to soar 20% to CN¥4.34. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥71.1b and earnings per share (EPS) of CN¥4.20 in 2024. So the consensus seems to have become somewhat more optimistic on ANTA Sports Products' earnings potential following these results.
There's been no major changes to the consensus price target of HK$112, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. 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. There are some variant perceptions on ANTA Sports Products, with the most bullish analyst valuing it at HK$144 and the most bearish at HK$84.03 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
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. We would highlight that ANTA Sports Products' revenue growth is expected to slow, with the forecast 14% annualised growth rate until the end of 2024 being well below the historical 18% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 9.7% annually. Even after the forecast slowdown in growth, it seems obvious that ANTA Sports Products is also expected to grow faster than the wider industry.
The Bottom Line
The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around ANTA Sports Products' earnings potential next year. Happily, there were no major changes to revenue forecasts, with the business still 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 forecasts for ANTA Sports Products going out to 2026, and you can see them free on our platform here.
We don't want to rain on the parade too much, but we did also find 1 warning sign for ANTA Sports Products that you need to be mindful of.
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.
上週,安踏體育用品有限公司(HKG: 2020)發佈了最新的年度業績,這是該公司建立更強大業務過程中的一個重要里程碑。總體業績是積極的——儘管620億元人民幣的收入與分析師的預測一致,但安踏體育產品出人意料地實現了每股3.60元人民幣的法定利潤,略高於預期。根據結果,分析師更新了他們的盈利模式,很高興知道他們是否認爲公司的前景發生了巨大變化,或者業務是否照舊。根據這些結果,我們收集了最新的法定預測,以了解分析師是否改變了盈利模式。
香港交易所:2020 年收益及收入增長 2024 年 3 月 29 日
考慮到最新業績,安踏體育產品的37位分析師目前的共識是,2024年的收入爲709億元人民幣。這將反映其收入在過去12個月中顯著增長了14%。預計每股法定收益將飆升20%,至4.34元人民幣。然而,在最新業績公佈之前,分析師曾預計2024年的收入爲711億元人民幣,每股收益(EPS)爲4.20元人民幣。因此,在這些業績公佈後,人們對安踏體育產品的盈利潛力的共識似乎變得更加樂觀了。
112港元的共識目標股價沒有重大變化,這表明每股收益前景的改善不足以對該股估值產生長期的積極影響。但是,固定單一價格目標可能是不明智的,因爲共識目標實際上是分析師目標股價的平均值。因此,一些投資者喜歡查看估計範圍,看看對公司的估值是否有任何分歧。對安踏體育產品的看法有所不同,最看漲的分析師將其估值爲144港元,最看跌的爲每股84.03港元。這表明估值仍然存在一點差異,但分析師似乎對該股的看法並不完全分歧,好像這可能是成功或失敗一樣。
我們可以從大局的角度看待這些估計值的另一種方式,例如預測如何與過去的表現相提並論,以及預測相對於業內其他公司是否或多或少看漲。我們要強調的是,安踏體育產品的收入增長預計將放緩,預計到2024年底的年化增長率爲14%,遠低於過去五年18%的歷史年增長率。相比之下,該行業中其他有分析師覆蓋的公司的收入預計將以每年9.7%的速度增長。即使在預測增長放緩之後,似乎很明顯,安踏體育產品的增長速度也將超過整個行業。
底線
對我們來說,最大的收穫是共識的每股收益上調,這表明人們對安踏體育產品明年盈利潛力的看法明顯改善。令人高興的是,收入預測沒有重大變化,預計該業務的增長速度仍將快於整個行業。共識目標股價沒有實際變化,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,公司收益的長期軌跡比明年重要得多。我們對安踏體育產品將在2026年之前上線做出了預測,你可以在我們的平台上免費查看。
我們不想在遊行隊伍中下太多雨,但我們也找到了一個需要注意的安踏體育產品的警告標誌。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。
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