Nordisk Bergteknik AB (publ) Just Recorded A 62% EPS Beat: Here's What Analysts Are Forecasting Next

Nordisk Bergteknik AB (publ) (STO:NORB B) last week reported its latest quarterly results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Revenues of kr858m fell slightly short of expectations, but earnings were a definite bright spot, with statutory per-share profits of kr0.47 an impressive 62% ahead of estimates. 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Nordisk Bergteknik after the latest results.

Check out our latest analysis for Nordisk Bergteknik

Taking into account the latest results, the consensus forecast from Nordisk Bergteknik's dual analysts is for revenues of kr3.47b in 2024. This reflects a modest 4.0% improvement in revenue compared to the last 12 months. Nordisk Bergteknik is also expected to turn profitable, with statutory earnings of kr0.77 per share. Before this earnings report, the analysts had been forecasting revenues of kr3.49b and earnings per share (EPS) of kr0.79 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.

The consensus price target fell 12% to kr15.00, suggesting that the analysts might have been a bit enthusiastic in their previous valuation - or they were expecting the company to provide stronger guidance in the quarterly results.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Nordisk Bergteknik's past performance and to peers in the same industry. We would highlight that Nordisk Bergteknik's revenue growth is expected to slow, with the forecast 8.1% annualised growth rate until the end of 2024 being well below the historical 35% p.a. growth over the last five years. Compare this to the 17 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 6.7% per year. Factoring in the forecast slowdown in growth, it looks like Nordisk Bergteknik is forecast to grow at about the same rate as the wider 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 fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of Nordisk Bergteknik's future valuation.

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 analyst estimates for Nordisk Bergteknik going out as far as 2026, and you can see them free on our platform here.

Plus, you should also learn about the 2 warning signs we've spotted with Nordisk Bergteknik (including 1 which is significant) .

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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.