Here's What Analysts Are Forecasting For SAES Getters S.p.A. (BIT:SG) After Its Half-Year Results

Shareholders might have noticed that SAES Getters S.p.A. (BIT:SG) filed its half-year result this time last week. The early response was not positive, with shares down 2.5% to €21.70 in the past week. It was a workmanlike result, with revenues of €61m coming in 2.8% ahead of expectations, and statutory earnings per share of €0.71, in line with analyst appraisals. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for SAES Getters

After the latest results, the three analysts covering SAES Getters are now predicting revenues of €236.7m in 2022. If met, this would reflect a satisfactory 5.4% improvement in sales compared to the last 12 months. Per-share earnings are expected to bounce 32% to €0.62. In the lead-up to this report, the analysts had been modelling revenues of €226.7m and earnings per share (EPS) of €0.85 in 2022. While next year's revenue estimates increased, there was also a large cut to EPS expectations, suggesting the consensus has a bit of a mixed view of these results.

The consensus price target was unchanged at €30.67, suggesting the business is performing roughly in line with expectations, despite some adjustments to profit and revenue forecasts. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic SAES Getters analyst has a price target of €35.00 per share, while the most pessimistic values it at €27.00. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analysts are definitely expecting SAES Getters' growth to accelerate, with the forecast 11% annualised growth to the end of 2022 ranking favourably alongside historical growth of 5.4% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 7.1% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect SAES Getters to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Happily, they also upgraded their revenue estimates, and are forecasting revenues 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.

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 SAES Getters analysts - going out to 2024, and you can see them free on our platform here.

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for SAES Getters that you should be aware 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.