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Broker Revenue Forecasts For Energean plc (LON:ENOG) Are Surging Higher

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Simply Wall St
·2 min read
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Energean plc (LON:ENOG) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the latest consensus from Energean's nine analysts is for revenues of US$179m in 2020, which would reflect a major 374% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing US$134m of revenue in 2020. It looks like there's been a clear increase in optimism around Energean, given the chunky increase in revenue forecasts.

View our latest analysis for Energean


Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. One thing stands out from these estimates, which is that Energean is forecast to grow faster in the future than it has in the past, with revenues expected to grow 374%. If achieved, this would be a much better result than the 64% annual decline over the past year. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 12% per year. Not only are Energean's revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Energean.

That's a pretty serious upgrade, but shareholders might be even more pleased to know that forecasts expect Energean to be able to reach break-even within the next few years. For more information, you can click through to our free platform to learn more about these forecasts.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

This article by Simply Wall St is general in nature. 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.