Earnings Beat: Angler Gaming plc Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Angler Gaming plc (NGM:ANGL) came out with its second-quarter results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. It looks to have been a decent result overall - while revenue fell marginally short of analyst estimates at €10m, statutory earnings beat expectations by a notable 130%, coming in at €0.0092 per share. 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. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for Angler Gaming

Taking into account the latest results, the most recent consensus for Angler Gaming from twin analysts is for revenues of €43.2m in 2024. If met, it would imply a modest 4.3% increase on its revenue over the past 12 months. Per-share earnings are expected to bounce 97% to €0.06. In the lead-up to this report, the analysts had been modelling revenues of €45.9m and earnings per share (EPS) of €0.05 in 2024. Although the analysts have lowered their revenue forecasts, they've also made a nice increase in their earnings per share estimates, which implies there's been something of an uptick in sentiment following the latest results.

The average price target increased 8.6% to kr7.80, with the analysts signalling that the improved earnings outlook is more important to the company's valuation than its revenue.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's clear from the latest estimates that Angler Gaming's rate of growth is expected to accelerate meaningfully, with the forecast 8.8% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 3.7% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to see revenue growth of 12% annually. So it's clear that despite the acceleration in growth, Angler Gaming is expected to grow meaningfully slower than the industry average.

The Bottom Line

The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Angler Gaming's earnings potential next year. Unfortunately, they also downgraded their revenue estimates, and our data indicates underperformance compared to the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. Yet - earnings are more important to the intrinsic value of the business. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have analyst estimates for Angler Gaming 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 Angler Gaming (including 1 which shouldn't be ignored) .

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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.