Stevanato Group S.p.A. (NYSE:STVN) Full-Year Results: Here's What Analysts Are Forecasting For This Year
Last week, you might have seen that Stevanato Group S.p.A. (NYSE:STVN) released its yearly result to the market. The early response was not positive, with shares down 9.9% to US$29.35 in the past week. It looks like the results were a bit of a negative overall. While revenues of €1.1b were in line with analyst predictions, statutory earnings were less than expected, missing estimates by 2.1% to hit €0.54 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Check out our latest analysis for Stevanato Group
Taking into account the latest results, the current consensus from Stevanato Group's nine analysts is for revenues of €1.19b in 2024. This would reflect a decent 9.3% increase on its revenue over the past 12 months. Per-share earnings are expected to increase 9.9% to €0.60. Yet prior to the latest earnings, the analysts had been anticipated revenues of €1.22b and earnings per share (EPS) of €0.64 in 2024. The analysts are less bullish than they were before these results, given the reduced revenue forecasts and the small dip in earnings per share expectations.
Despite the cuts to forecast earnings, there was no real change to the US$34.74 price target, showing that the analysts don't think the changes have a meaningful impact on its intrinsic value. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Stevanato Group, with the most bullish analyst valuing it at US$38.00 and the most bearish at US$30.00 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that Stevanato Group's revenue growth is expected to slow, with the forecast 9.3% annualised growth rate until the end of 2024 being well below the historical 15% p.a. growth over the last three years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.1% annually. Even after the forecast slowdown in growth, it seems obvious that Stevanato Group is also expected to grow faster than the wider industry.
The Bottom Line
The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Stevanato Group. They also downgraded Stevanato Group's revenue estimates, but industry data suggests that it is expected to grow faster than the wider industry. The consensus price target held steady at US$34.74, with the latest estimates not enough to have an impact on their price targets.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Stevanato Group going out to 2026, and you can see them free on our platform here.
You can also view our analysis of Stevanato Group's balance sheet, and whether we think Stevanato Group is carrying too much debt, for free on our platform here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
