The Openjobmetis S.p.A. (BIT:OJM) Third-Quarter Results Are Out And Analysts Have Published New Forecasts

Investors in Openjobmetis S.p.A. (BIT:OJM) had a good week, as its shares rose 5.5% to close at €6.16 following the release of its third-quarter results. Results were roughly in line with estimates, with revenues of €133m and statutory earnings per share of €0.79. 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 collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Openjobmetis

Taking into account the latest results, the consensus forecast from Openjobmetis' three analysts is for revenues of €546.2m in 2021, which would reflect a reasonable 5.4% improvement in sales compared to the last 12 months. Statutory earnings per share are predicted to soar 35% to €0.66. Yet prior to the latest earnings, the analysts had been anticipated revenues of €547.1m and earnings per share (EPS) of €0.67 in 2021. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at €7.77. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Openjobmetis analyst has a price target of €8.10 per share, while the most pessimistic values it at €7.40. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. Next year brings more of the same, according to the analysts, with revenue forecast to grow 5.4%, in line with its 5.6% annual growth over the past five years. Compare this with the wider industry, which analyst estimates (in aggregate) suggest will see revenues grow 5.2% next year. It's clear that while Openjobmetis' revenue growth is expected to continue on its current trajectory, it's only expected to grow in line with the industry itself.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no real changes to sales forecasts, with the business still expected to grow in line with the overall 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.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple Openjobmetis analysts - going out to 2022, and you can see them free on our platform here.

Before you take the next step you should know about the 3 warning signs for Openjobmetis that we have uncovered.

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