Shareholders in Fiera Capital Corporation (TSE:FSZ) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.
After the upgrade, the seven analysts covering Fiera Capital are now predicting revenues of CA$868m in 2022. If met, this would reflect a huge 23% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CA$744m in 2022. It looks like there's been a clear increase in optimism around Fiera Capital, given the nice gain to revenue forecasts.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We can infer from the latest estimates that forecasts expect a continuation of Fiera Capital'shistorical trends, as the 18% annualised revenue growth to the end of 2022 is roughly in line with the 15% annual revenue growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue shrink 32% annually. So not only is Fiera Capital expected to maintain its revenue growth despite the wider downturn, it's also forecast to grow faster than the industry as a whole.
The Bottom Line
The highlight for us was that analysts increased their revenue forecasts for Fiera Capital next year. Analysts also expect revenues to perform better than the wider market. Seeing the dramatic upgrade to next year's forecasts, it might be time to take another look at Fiera Capital.
Still got questions? At least one of Fiera Capital's seven analysts has provided estimates out to 2023, which can be seen for free on our platform here.
Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.
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.