Immobiliare Grande Distribuzione SIIQ S.p.A. (BIT:IGD) Just Released Its Annual Results And Analysts Are Updating Their Estimates

The full-year results for Immobiliare Grande Distribuzione SIIQ S.p.A. (BIT:IGD) were released last week, making it a good time to revisit its performance. Overall the results were a little better than the analysts were expecting, with revenues beating forecasts by 6.8%to hit €152m. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

See our latest analysis for Immobiliare Grande Distribuzione SIIQ

Taking into account the latest results, Immobiliare Grande Distribuzione SIIQ's three analysts currently expect revenues in 2022 to be €152.4m, approximately in line with the last 12 months. Statutory earnings per share are predicted to bounce 61% to €0.77. Yet prior to the latest earnings, the analysts had been anticipated revenues of €154.0m and earnings per share (EPS) of €0.71 in 2022. So the consensus seems to have become somewhat more optimistic on Immobiliare Grande Distribuzione SIIQ's earnings potential following these results.

The consensus price target was unchanged at €4.90, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. 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. The most optimistic Immobiliare Grande Distribuzione SIIQ analyst has a price target of €5.20 per share, while the most pessimistic values it at €4.70. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

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 pretty clear that there is an expectation that Immobiliare Grande Distribuzione SIIQ's revenue growth will slow down substantially, with revenues to the end of 2022 expected to display 0.3% growth on an annualised basis. This is compared to a historical growth rate of 1.2% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 4.9% per year. Factoring in the forecast slowdown in growth, it seems obvious that Immobiliare Grande Distribuzione SIIQ is also expected to grow slower than other industry participants.

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 Immobiliare Grande Distribuzione SIIQ following these results. On the plus side, there were no major changes to revenue estimates; although forecasts imply revenues will perform worse 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.

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 Immobiliare Grande Distribuzione SIIQ analysts - going out to 2024, 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 Immobiliare Grande Distribuzione SIIQ (1 is potentially serious!) that we have uncovered.

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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.