Analysts Are Updating Their Malaysia Airports Holdings Berhad (KLSE:AIRPORT) Estimates After Its Third-Quarter Results

Simply Wall St
·4 min read

As you might know, Malaysia Airports Holdings Berhad (KLSE:AIRPORT) recently reported its third-quarter numbers. Revenues of RM864m came in a modest 2.2% below forecasts. Statutory losses were a relative bright spot though, with a per-share loss of RM0.014 coming in a substantial 59% smaller than what the analysts had expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Malaysia Airports Holdings Berhad after the latest results.

View our latest analysis for Malaysia Airports Holdings Berhad

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Following the latest results, Malaysia Airports Holdings Berhad's 17 analysts are now forecasting revenues of RM4.66b in 2023. This would be a substantial 74% improvement in sales compared to the last 12 months. Malaysia Airports Holdings Berhad is also expected to turn profitable, with statutory earnings of RM0.22 per share. Yet prior to the latest earnings, the analysts had been anticipated revenues of RM4.67b and earnings per share (EPS) of RM0.21 in 2023. So the consensus seems to have become somewhat more optimistic on Malaysia Airports Holdings Berhad's earnings potential following these results.

The consensus price target was unchanged at RM7.11, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. 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 Malaysia Airports Holdings Berhad, with the most bullish analyst valuing it at RM7.86 and the most bearish at RM5.70 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

Of course, another way to look at these forecasts is to place them into context against the industry itself. One thing stands out from these estimates, which is that Malaysia Airports Holdings Berhad is forecast to grow faster in the future than it has in the past, with revenues expected to display 56% annualised growth until the end of 2023. If achieved, this would be a much better result than the 22% annual decline 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 13% per year. Not only are Malaysia Airports Holdings Berhad's 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 Malaysia Airports Holdings Berhad's earnings potential next year. Fortunately, they also reconfirmed their revenue numbers, suggesting sales are tracking in line with expectations - and our data suggests that revenues are 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 Malaysia Airports Holdings Berhad. 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 Malaysia Airports Holdings Berhad going out to 2024, and you can see them free on our platform here..

It might also be worth considering whether Malaysia Airports Holdings Berhad's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here.

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.

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