Published on 11 Nov 2023 on Simply Wall St. via Yahoo Finance
What You Need To Know About The SunOpta Inc. (NASDAQ:STKL) Analyst Downgrade Today
One thing we could say about the analysts on SunOpta Inc. (NASDAQ:STKL) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative. Bidders are definitely seeing a different story, with the stock price of US$4.41 reflecting a 12% rise in the past week. Whether the downgrade will have a negative impact on demand for shares is yet to be seen.
Following the downgrade, the consensus from seven analysts covering SunOpta is for revenues of US$684m in 2024, implying a disturbing 28% decline in sales compared to the last 12 months. The losses are expected to disappear over the next year or so, with forecasts for a profit of US$0.07 per share next year. Before this latest update, the analysts had been forecasting revenues of US$990m and earnings per share (EPS) of US$0.07 in 2024. Indeed we can see that the consensus opinion has undergone some fundamental changes following the recent consensus updates, with a pretty serious reduction to revenues and some minor tweaks to earnings numbers.
See our latest analysis for SunOpta