The ENAV S.p.A. (BIT:ENAV) Interim Results Are Out And Analysts Have Published New Forecasts

It's been a good week for ENAV S.p.A. (BIT:ENAV) shareholders, because the company has just released its latest half-yearly results, and the shares gained 2.2% to €4.06. It was an okay report, and revenues came in at €447m, approximately in line with analyst estimates leading up to the results announcement. 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.

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After the latest results, the five analysts covering ENAV are now predicting revenues of €1.03b in 2025. If met, this would reflect a satisfactory 3.0% improvement in revenue compared to the last 12 months. Statutory earnings per share are expected to plunge 29% to €0.14 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of €1.01b and earnings per share (EPS) of €0.13 in 2025. It looks like there's been a modest increase in sentiment following the latest results, withthe analysts becoming a bit more optimistic in their predictions for both revenues and earnings.

View our latest analysis for ENAV

Althoughthe analysts have upgraded their earnings estimates, there was no change to the consensus price target of €4.37, suggesting that the forecast performance does not have a long term impact on the company's valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic ENAV analyst has a price target of €4.80 per share, while the most pessimistic values it at €3.60. This is a very narrow spread of estimates, implying either that ENAV is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The period to the end of 2025 brings more of the same, according to the analysts, with revenue forecast to display 6.1% growth on an annualised basis. That is in line with its 7.0% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 3.6% per year. So it's pretty clear that ENAV is forecast to grow substantially faster than its 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 ENAV following these results. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business 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.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple ENAV analysts - going out to 2027, and you can see them free on our platform here.

Even so, be aware that ENAV is showing 1 warning sign in our investment analysis , you should know about...

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