Yahoo Finance News Flash: One Harmony Energy Income Trust Plc (LON:HEIT) Analyst Has Been Trimming Their Revenue Forecasts
The latest analyst coverage could presage a bad day for Harmony Energy Income Trust Plc (LON:HEIT), with the covering analyst making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative.
Following the downgrade, the most recent consensus for Harmony Energy Income Trust from its solo analyst is for revenues of UK£29m in 2023 which, if met, would be a substantial 21% increase on its sales over the past 12 months. Before the latest update, the analyst was foreseeing UK£46m of revenue in 2023. The consensus view seems to have become more pessimistic on Harmony Energy Income Trust, noting the pretty serious reduction to revenue estimates in this update.
Check out our latest analysis for Harmony Energy Income Trust
There was no particular change to the consensus price target of UK£1.32, with Harmony Energy Income Trust's latest outlook seemingly not enough to result in a change of valuation.
The Bottom Line
The most important thing to take away is that the analyst cut their revenue estimates for this year. Overall, given the drastic downgrade to this year's forecasts, we'd be feeling a little more wary of Harmony Energy Income Trust going forwards.
Looking for more information? We have forecasts for Harmony Energy Income Trust from one covering analyst, and you can see them free on our platform here.
Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are downgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.
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