Upgrade: Analysts Just Made A Substantial Increase To Their Maire Tecnimont S.p.A. (BIT:MAIRE) Forecasts

Maire Tecnimont S.p.A. (BIT:MAIRE) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The analysts greatly increased their revenue estimates, suggesting a stark improvement in business fundamentals. Maire Tecnimont has also found favour with investors, with the stock up a worthy 29% to €6.87 over the past week. We'll be curious to see if these new estimates convince the market to lift the stock price higher still.

Following the upgrade, the current consensus from Maire Tecnimont's six analysts is for revenues of €6.0b in 2024 which - if met - would reflect a substantial 41% increase on its sales over the past 12 months. Per-share earnings are expected to bounce 47% to €0.56. Prior to this update, the analysts had been forecasting revenues of €5.2b and earnings per share (EPS) of €0.48 in 2024. So we can see there's been a pretty clear increase in analyst sentiment in recent times, with both revenues and earnings per share receiving a decent lift in the latest estimates.

View our latest analysis for Maire Tecnimont

With these upgrades, we're not surprised to see that the analysts have lifted their price target 27% to €7.31 per share.

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. It's clear from the latest estimates that Maire Tecnimont's rate of growth is expected to accelerate meaningfully, with the forecast 41% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 3.1% 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 to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. Given that the consensus looks almost universally bullish, with a substantial increase to forecasts and a higher price target, Maire Tecnimont could be worth investigating further.

Still, 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 Maire Tecnimont going out to 2026, and you can see them free on our platform here..

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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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.