Published on 16 Nov 2023 on Simply Wall St. via Yahoo Finance
Lufax Holding Ltd (NYSE:LU) Analysts Just Slashed Next Year's Estimates
The latest analyst coverage could presage a bad day for Lufax Holding Ltd (NYSE:LU), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting the analysts have soured majorly on the business.
Following the latest downgrade, the current consensus, from the 14 analysts covering Lufax Holding, is for revenues of CN¥36b in 2024, which would reflect a disturbing 29% reduction in Lufax Holding's sales over the past 12 months. Statutory earnings per share are presumed to bounce 405% to CN¥2.02. Before this latest update, the analysts had been forecasting revenues of CN¥40b and earnings per share (EPS) of CN¥2.29 in 2024. It looks like analyst sentiment has declined substantially, with a measurable cut to revenue estimates and a real cut to earnings per share numbers as well.
View our latest analysis for Lufax Holding