Published on 1 Aug 2023 on Simply Wall St. via Yahoo Finance
AltaGas Ltd. (TSE:ALA) Analysts Just Slashed This Year's Revenue Estimates By 11%
One thing we could say about the analysts on AltaGas Ltd. (TSE:ALA) - 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. At CA$26.03, shares are up 4.9% in the past 7 days. It will be interesting to see if this downgrade motivates investors to start selling their holdings.
Following the latest downgrade, the current consensus, from the eight analysts covering AltaGas, is for revenues of CA$12b in 2023, which would reflect a considerable 10% reduction in AltaGas' sales over the past 12 months. Before the latest update, the analysts were foreseeing CA$14b of revenue in 2023. The consensus view seems to have become more pessimistic on AltaGas, noting the measurable cut to revenue estimates in this update.
Check out our latest analysis for AltaGas