It's been a good week for Unitil Corporation (NYSE:UTL) shareholders, because the company has just released its latest annual results, and the shares gained 5.8% to US$50.86. Results were roughly in line with estimates, with revenues of US$557m and statutory earnings per share of US$2.82. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Unitil after the latest results.

View our latest analysis for Unitil

Following the latest results, Unitil's three analysts are now forecasting revenues of US$589.9m in 2024. This would be a satisfactory 5.9% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to accumulate 4.4% to US$2.92. Before this earnings report, the analysts had been forecasting revenues of US$563.2m and earnings per share (EPS) of US$2.93 in 2024. So it looks like there's been no major change in sentiment following the latest results, although the analysts have made a small lift in to revenue forecasts.

It may not be a surprise to see thatthe analysts have reconfirmed their price target of US$53.33, implying that the uplift in revenue is not expected to greatly contribute to Unitil's valuation in the near term. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic Unitil analyst has a price target of US$58.00 per share, while the most pessimistic values it at US$50.00. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting Unitil is an easy business to forecast or the the analysts are all using similar assumptions.

Another 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. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 5.9% growth on an annualised basis. That is in line with its 7.3% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 3.1% annually. So although Unitil is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.