We wouldn't be surprised to find shareholders feeling a bit shell-shocked, after these downgrades. Unfortunately analysts also downgraded their revenue estimates, and industry data suggests that Co-Diagnostics' revenues are expected to grow slower than the wider market. The most important thing to take away is that analysts increased their loss per share estimates for next year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Co-Diagnostics is expected to lag the wider industry. ![]() By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 7.3% annually for the foreseeable future. That is a notable change from historical growth of 64% over the last five years. We would highlight that sales are expected to reverse, with a forecast 46% annualised revenue decline to the end of 2023. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a serious cut to their revenue forecasts while also expecting losses per share to increase.Ĭheck out our latest analysis for Co-DiagnosticsĪnother way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. However, before this estimates update, the consensus had been expecting revenues of US$39m and US$0.25 per share in losses. Following this this downgrade, earnings are now expected to tip over into loss-making territory, with the analysts forecasting losses of US$0.58 per share in 2023. ![]() Revenue and earnings per share (EPS) forecasts were both revised downwards, with analysts seeing grey clouds on the horizon.įollowing the downgrade, the consensus from three analysts covering Co-Diagnostics is for revenues of US$25m in 2023, implying a painful 54% decline in sales compared to the last 12 months. ![]() ( NASDAQ:CODX) shareholders today, when the analysts downgraded their forecasts for next year. Market forces rained on the parade of Co-Diagnostics, Inc.
0 Comments
Leave a Reply. |