Haitian International Holdings Limited (HKG:1882) defied analyst predictions to release its half-yearly results, which were ahead of market expectations. Results were good overall, with revenues beating analyst predictions by 3.7% to hit CN¥8.0b. Statutory earnings per share (EPS) came in at CN¥0.95, some 3.3% above whatthe analysts had expected. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

Following the latest results, Haitian International Holdings' eleven analysts are now forecasting revenues of CN¥15.8b in 2024. This would be a satisfactory 7.2% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to rise 9.0% to CN¥1.90. In the lead-up to this report, the analysts had been modelling revenues of CN¥15.9b and earnings per share (EPS) of CN¥1.91 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of HK$28.95, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Haitian International Holdings, with the most bullish analyst valuing it at HK$33.30 and the most bearish at HK$24.29 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Haitian International Holdings' past performance and to peers in the same industry. The analysts are definitely expecting Haitian International Holdings' growth to accelerate, with the forecast 15% annualised growth to the end of 2024 ranking favourably alongside historical growth of 6.2% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 12% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Haitian International Holdings is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. 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 Haitian International Holdings. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Haitian International Holdings analysts - going out to 2026, and you can see them free on our platform here.

You can also see our analysis of Haitian International Holdings' Board and CEO remuneration and experience, and whether company insiders have been buying stock.

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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.