P/F Bakkafrost Just Missed Earnings; Here's What Analysts Are Forecasting Now

As you might know, P/F Bakkafrost (OB:BAKKA) recently reported its quarterly numbers. It was a pretty negative result overall, with revenues of kr.2.1b missing analyst predictions by 2.9%. Worse, the business reported a statutory loss of kr.1.97 per share, a substantial decline on analyst expectations of a profit. 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. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

See our latest analysis for P/F Bakkafrost

Following last week's earnings report, P/F Bakkafrost's seven analysts are forecasting 2024 revenues to be kr.7.76b, approximately in line with the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of kr.7.87b and earnings per share (EPS) of kr.20.61 in 2024. So we can see that while the consensus made no real change to its revenue estimates, it also no longer provides an earnings per share estimate. This suggests that revenues are what the market is focusing on after the latest results.

There's been no real change to the consensus price target of kr710, with P/F Bakkafrost seemingly executing in line with expectations. 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 P/F Bakkafrost at kr795 per share, while the most bearish prices it at kr617. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await P/F Bakkafrost shareholders.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the P/F Bakkafrost's past performance and to peers in the same industry. It's pretty clear that there is an expectation that P/F Bakkafrost's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 1.7% growth on an annualised basis. This is compared to a historical growth rate of 15% 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 8.3% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than P/F Bakkafrost.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their revenue estimates for next year, suggesting that the business is performing in line with expectations. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that P/F Bakkafrost's revenue is expected to 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.

We have estimates for P/F Bakkafrost from its seven analysts out to 2026, and you can see them free on our platform here.

It might also be worth considering whether P/F Bakkafrost's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here.

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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.