Mycronic AB (publ) Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Investors in Mycronic AB (publ) (STO:MYCR) had a good week, as its shares rose 5.3% to close at kr377 following the release of its first-quarter results. Revenues were kr1.7b, approximately in line with expectations, although statutory earnings per share (EPS) performed substantially better. EPS of kr5.00 were also better than expected, beating analyst predictions by 11%. 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. 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 Mycronic

Taking into account the latest results, the current consensus from Mycronic's dual analysts is for revenues of kr6.71b in 2024. This would reflect a decent 8.7% increase on its revenue over the past 12 months. Per-share earnings are expected to swell 16% to kr15.92. Yet prior to the latest earnings, the analysts had been anticipated revenues of kr6.77b and earnings per share (EPS) of kr16.10 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

The analysts reconfirmed their price target of kr420, showing that the business is executing well and in line with expectations.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Mycronic's past performance and to peers in the same industry. The analysts are definitely expecting Mycronic's growth to accelerate, with the forecast 12% annualised growth to the end of 2024 ranking favourably alongside historical growth of 7.5% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 7.7% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Mycronic is expected to grow much faster than its industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster 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.

With that in mind, we wouldn't be too quick to come to a conclusion on Mycronic. Long-term earnings power is much more important than next year's profits. We have analyst estimates for Mycronic going out as far as 2026, and you can see them free on our platform here.

Even so, be aware that Mycronic is showing 1 warning sign in our investment analysis , you should know about...

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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.