The Maire Tecnimont S.p.A. (BIT:MAIRE) First-Quarter Results Are Out And Analysts Have Published New Forecasts

Investors in Maire Tecnimont S.p.A. (BIT:MAIRE) had a good week, as its shares rose 2.3% to close at €7.73 following the release of its first-quarter results. Results overall were respectable, with statutory earnings of €0.38 per share roughly in line with what the analysts had forecast. Revenues of €1.3b came in 2.6% ahead of analyst predictions. 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've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

See our latest analysis for Maire Tecnimont

Taking into account the latest results, the current consensus from Maire Tecnimont's six analysts is for revenues of €5.99b in 2024. This would reflect a sizeable 32% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to jump 39% to €0.61. Yet prior to the latest earnings, the analysts had been anticipated revenues of €5.97b and earnings per share (EPS) of €0.59 in 2024. So the consensus seems to have become somewhat more optimistic on Maire Tecnimont's earnings potential following these results.

There's been no major changes to the consensus price target of €7.97, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Maire Tecnimont at €8.50 per share, while the most bearish prices it at €7.20. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Maire Tecnimont's past performance and to peers in the same industry. It's clear from the latest estimates that Maire Tecnimont's rate of growth is expected to accelerate meaningfully, with the forecast 45% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 5.8% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 12% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Maire Tecnimont 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 Maire Tecnimont following these results. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Maire Tecnimont. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Maire Tecnimont analysts - going out to 2026, and you can see them free on our platform here.

We don't want to rain on the parade too much, but we did also find 1 warning sign for Maire Tecnimont that you need to be mindful 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.