Analysts Are Updating Their Aena S.M.E., S.A. (BME:AENA) Estimates After Its First-Quarter Results

It's been a good week for Aena S.M.E., S.A. (BME:AENA) shareholders, because the company has just released its latest first-quarter results, and the shares gained 3.4% to €181. The results were positive, with revenue coming in at €1.2b, beating analyst expectations by 2.5%. 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. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for Aena S.M.E

Following the latest results, Aena S.M.E's 19 analysts are now forecasting revenues of €5.67b in 2024. This would be a reasonable 7.7% improvement in revenue compared to the last 12 months. Statutory per share are forecast to be €11.96, approximately in line with the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of €5.62b and earnings per share (EPS) of €11.47 in 2024. So the consensus seems to have become somewhat more optimistic on Aena S.M.E's earnings potential following these results.

The consensus price target was unchanged at €188, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Aena S.M.E at €213 per share, while the most bearish prices it at €127. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Aena S.M.E shareholders.

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. The analysts are definitely expecting Aena S.M.E's growth to accelerate, with the forecast 10% annualised growth to the end of 2024 ranking favourably alongside historical growth of 5.1% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 3.3% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Aena S.M.E to grow faster than the wider industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Aena S.M.E following these results. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at €188, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Aena S.M.E going out to 2026, and you can see them free on our platform here..

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Aena S.M.E that you should be aware of.

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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.