Ingenic Semiconductor Co.,Ltd. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Ingenic Semiconductor Co.,Ltd. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
The analysts might have been a bit too bullish on Ingenic Semiconductor Co.,Ltd. (SZSE:300223), given that the company fell short of expectations when it released its second-quarter results last week. It looks like quite a negative result overall, with both revenues and earnings falling well short of analyst predictions. Revenues of CN¥1.1b missed by 11%, and statutory earnings per share of CN¥0.23 fell short of forecasts by 35%. 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Ingenic SemiconductorLtd after the latest results.
鉴于Ingenic Semiconductor Co.,Ltd. (SZSE:300223)上周发布了第二季度业绩结果,与分析师的预期相比,分析师可能对该公司过于看好了。整体而言,这似乎是一个相当负面的结果,营业收入和每股收益都远远低于分析师的预测。营业收入为11亿元,较预期低11%,每股收益为0.23元,较预期低35%。作为投资者,业绩是一个重要的时间节点,他们可以跟踪公司的表现,查看分析师对明年的预测,并查看市场对该公司的情绪是否有变化。读者们会很高兴知道,我们已经整合了最新的业绩预测结果,看看在最新的业绩公布后,分析师是否改变了对Ingenic SemiconductorLtd的看法。
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Taking into account the latest results, the consensus forecast from Ingenic SemiconductorLtd's four analysts is for revenues of CN¥4.52b in 2024. This reflects a satisfactory 2.3% improvement in revenue compared to the last 12 months. Statutory per-share earnings are expected to be CN¥1.06, roughly flat on the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of CN¥5.11b and earnings per share (EPS) of CN¥1.35 in 2024. Indeed, we can see that the analysts are a lot more bearish about Ingenic SemiconductorLtd's prospects following the latest results, administering a real cut to revenue estimates and slashing their EPS estimates to boot.
考虑到最新的结果,Ingenic SemiconductorLtd的四位分析师预计2024年的营业收入为452亿元,相比过去12个月增长了2.3%。每股收益预计为1.06元,在过去12个月基本持平。在发布此报告之前,分析师对2024年的营业收入预计为511亿元,每股收益(EPS)预计为1.35元。实际上,我们可以看到,分析师在最新的业绩公布后对Ingenic SemiconductorLtd的前景更为悲观,大幅下调了营业收入预测,并将EPS预测削减。
The analysts made no major changes to their price target of CN¥59.57, suggesting the downgrades are not expected to have a long-term impact on Ingenic SemiconductorLtd's valuation. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Ingenic SemiconductorLtd analyst has a price target of CN¥79.00 per share, while the most pessimistic values it at CN¥37.70. 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.
分析师对于Ingenic SemiconductorLtd的估值没有进行重大变动,维持了59.57元的价格目标,这表明下调预测不会对Ingenic SemiconductorLtd的估值产生长期影响。另外,查看分析师估计的范围也可能有所启发,以评估离群意见与平均值的差异。最乐观的Ingenic SemiconductorLtd分析师给出了每股79.00元的目标价,而最悲观者将其定价为每股37.70元。注意分析师目标价之间的差距很大?这对我们来说意味着底层业务可能存在相当广泛的情景范围。
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. We would highlight that Ingenic SemiconductorLtd's revenue growth is expected to slow, with the forecast 4.6% annualised growth rate until the end of 2024 being well below the historical 31% p.a. growth over the last five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 22% annually. Factoring in the forecast slowdown in growth, it seems obvious that Ingenic SemiconductorLtd is also expected to grow slower than other industry participants.
从更大的视角来看,理解这些预测的一种方法是将其与过去的业绩和行业增长预估进行对比。我们要强调的是,北京君正的营业收入预计增长将放缓,到2024年年底预期的年增长率为4.6%,远低于过去五年的历史31%的年增长率。将其与行业中其他公司(带有分析师预测)相比,这些公司预计年平均营收增长率为22%。考虑到增长放缓的预测,北京君正也有望比其他行业参与者增长速度更慢。
The Bottom Line
最重要的事情是分析师增加了它对下一年每股亏损的估计。令人欣慰的是,营收预测未发生重大变化,业务仍有望比整个行业增长更快。共识价格目标稳定在28.50美元,最新估计不足以对价格目标产生影响。
The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Ingenic SemiconductorLtd. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse 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.
最大的担忧是分析师下调了其每股收益预期,表明北京君正可能面临业务逆风。从负面方面来看,他们还下调了营业收入预期,并且预测表明他们的表现将不如更广泛的行业。一致的目标价格没有真正改变,这表明业务的内在价值没有随着最新的预估发生重大变化。
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Ingenic SemiconductorLtd going out to 2026, and you can see them free on our platform here.
话虽如此,公司盈利的长期轨迹比明年更加重要。我们对北京君正的预测延伸至2026年,您可以在我们的平台免费查看。
We also provide an overview of the Ingenic SemiconductorLtd Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.
我们还提供了北京君正董事会和CEO的报酬概况以及在公司任职的时间以及内部人员是否一直在购买该股票的概况,详情请点击此处查看。
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