Montage Technology Co., Ltd. (SHSE:688008) shareholders have reason to celebrate, as analysts have upgraded their estimates for the company’s revenue and earnings. The consensus estimate for revenue in 2024 is now CN¥4.8b, reflecting an 83% increase from the previous year. Earnings per share are expected to rise by 100% to CN¥1.16. This upgrade indicates a more bullish outlook on Montage Technology’s business prospects.
The forecasted revenue growth of 124% annually to the end of 2024 is significantly faster than the company’s historical growth of 12% per year over the past five years. In comparison to other companies in the industry, Montage Technology is expected to outpace the competition with its accelerated revenue growth.
Although there hasn’t been a significant change in sentiment regarding earnings per share, the upgraded revenue estimates for this year show that sales are expected to grow at a faster rate than the wider market. With these positive forecast updates, investors may want to reassess Montage Technology’s long-term potential.
For more detailed analysis and insight into the company, investors can access comprehensive information on analyst estimates, insider transactions, dividends, and financial health on the Simply Wall St platform. As always, it’s crucial to conduct thorough research before making any investment decisions.
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