Analysts Have Made A Financial Statement On Hoshizaki Corporation's (TSE:6465) Half-Year Report

Shareholders might have noticed that Hoshizaki Corporation (TSE:6465) filed its interim result this time last week. The early response was not positive, with shares down 2.5% to JP¥4,277 in the past week. It was a workmanlike result, with revenues of JP¥218b coming in 4.3% ahead of expectations, and statutory earnings per share of JP¥227, in line with analyst appraisals. 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Hoshizaki after the latest results.

Check out our latest analysis for Hoshizaki

Taking into account the latest results, the consensus forecast from Hoshizaki's eight analysts is for revenues of JP¥416.5b in 2024. This reflects a credible 2.1% improvement in revenue compared to the last 12 months. Per-share earnings are expected to increase 6.6% to JP¥242. Yet prior to the latest earnings, the analysts had been anticipated revenues of JP¥416.4b and earnings per share (EPS) of JP¥238 in 2024. 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.

There were no changes to revenue or earnings estimates or the price target of JP¥6,204, suggesting that the company has met expectations in its recent result. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Hoshizaki at JP¥7,000 per share, while the most bearish prices it at JP¥5,500. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Hoshizaki's revenue growth is expected to slow, with the forecast 4.3% annualised growth rate until the end of 2024 being well below the historical 8.4% p.a. growth over the last five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 4.8% annually. So it's pretty clear that, while Hoshizaki's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. The consensus price target held steady at JP¥6,204, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Hoshizaki analysts - going out to 2026, and you can see them free on our platform here.

You can also see our analysis of Hoshizaki's Board and CEO remuneration and experience, and whether company insiders have been buying stock.

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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.