Analysts Just Published A Bright New Outlook For Harvia Oyj's (HEL:HARVIA)

Harvia Oyj (HEL:HARVIA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects. The stock price has risen 7.0% to €58.20 over the past week, suggesting investors are becoming more optimistic. Could this big upgrade push the stock even higher?

After the upgrade, the two analysts covering Harvia Oyj are now predicting revenues of €179m in 2021. If met, this would reflect a huge 39% improvement in sales compared to the last 12 months. Per-share earnings are expected to soar 55% to €1.77. Prior to this update, the analysts had been forecasting revenues of €159m and earnings per share (EPS) of €1.47 in 2021. There has definitely been an improvement in perception recently, with the analysts substantially increasing both their earnings and revenue estimates.

View our latest analysis for Harvia Oyj

It will come as no surprise to learn that the analysts have increased their price target for Harvia Oyj 28% to €62.00 on the back of these upgrades.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Harvia Oyj's growth to accelerate, with the forecast 55% annualised growth to the end of 2021 ranking favourably alongside historical growth of 25% per annum over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 9.9% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Harvia Oyj to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. With a serious upgrade to expectations and a rising price target, it might be time to take another look at Harvia Oyj.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have analyst estimates for Harvia Oyj going out as far as 2023, and you can see them free on our platform here.

You can also see our analysis of Harvia Oyj's Board and CEO remuneration and experience, and whether company insiders have been buying stock.

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