Tilt Renewables Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Simply Wall St
3 min read
0

Tilt Renewables Limited (NZSE:TLT) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat both earnings and revenue forecasts, with revenue of AU$128m, some 2.7% above estimates, and statutory earnings per share (EPS) coming in at AU$0.16, 274% ahead of expectations. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for Tilt Renewables

earnings-and-revenue-growth
earnings-and-revenue-growth

Following the latest results, Tilt Renewables' three analysts are now forecasting revenues of AU$185.3m in 2022. This would be a substantial 44% improvement in sales compared to the last 12 months. Statutory earnings per share are forecast to crater 88% to AU$0.019 in the same period. Before this earnings report, the analysts had been forecasting revenues of AU$186.3m and earnings per share (EPS) of AU$0.018 in 2022. So the consensus seems to have become somewhat more optimistic on Tilt Renewables' earnings potential following these results.

There's been no major changes to the consensus price target of NZ$6.49, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Tilt Renewables at NZ$8.10 per share, while the most bearish prices it at NZ$3.39. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

Of course, another way to look at these forecasts is to place them into context against the industry itself. For example, we noticed that Tilt Renewables' rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 44% growth to the end of 2022 on an annualised basis. That is well above its historical decline of 3.4% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 7.6% per year. Not only are Tilt Renewables' revenues expected to improve, it seems that the analysts are also expecting it 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 Tilt Renewables' 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 in mind, we wouldn't be too quick to come to a conclusion on Tilt Renewables. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Tilt Renewables going out to 2024, and you can see them free on our platform here..

It is also worth noting that we have found 4 warning signs for Tilt Renewables (3 make us uncomfortable!) that you need to take into consideration.

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 (at) simplywallst.com.

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