Bank Millennium S.A. (WSE:MIL) Half-Year Results: Here's What Analysts Are Forecasting For This Year

Shareholders might have noticed that Bank Millennium S.A. (WSE:MIL) filed its half-year result this time last week. The early response was not positive, with shares down 5.6% to zł14.24 in the past week. Results look mixed - while revenue fell marginally short of analyst estimates at zł3.2b, statutory earnings were in line with expectations, at zł0.59 per share. 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Bank Millennium after the latest results.

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Following last week's earnings report, Bank Millennium's five analysts are forecasting 2025 revenues to be zł6.70b, approximately in line with the last 12 months. Statutory earnings per share are predicted to rise 5.6% to zł0.76. Before this earnings report, the analysts had been forecasting revenues of zł6.66b and earnings per share (EPS) of zł0.74 in 2025. So the consensus seems to have become somewhat more optimistic on Bank Millennium's earnings potential following these results.

See our latest analysis for Bank Millennium

The consensus price target was unchanged at zł14.51, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. 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. Currently, the most bullish analyst values Bank Millennium at zł16.70 per share, while the most bearish prices it at zł11.60. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

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. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 1.5% by the end of 2025. This indicates a significant reduction from annual growth of 18% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 1.4% per year. It's pretty clear that Bank Millennium's revenues are expected to perform substantially worse than the wider 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 Bank Millennium following these results. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at zł14.51, 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 Bank Millennium analysts - going out to 2027, and you can see them free on our 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.