Bossard Holding AG (VTX:BOSN) came out with its annual results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. Results were roughly in line with estimates, with revenues of CHF1.2b and statutory earnings per share of CHF13.38. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. 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 Bossard Holding
Taking into account the latest results, Bossard Holding's seven analysts currently expect revenues in 2023 to be CHF1.15b, approximately in line with the last 12 months. Statutory earnings per share are forecast to shrink 2.2% to CHF13.09 in the same period. In the lead-up to this report, the analysts had been modelling revenues of CHF1.16b and earnings per share (EPS) of CHF13.18 in 2023. 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.
There were no changes to revenue or earnings estimates or the price target of CHF241, suggesting that the company has met expectations in its recent result. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Bossard Holding, with the most bullish analyst valuing it at CHF296 and the most bearish at CHF164 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We would highlight that sales are expected to reverse, with a forecast 0.2% annualised revenue decline to the end of 2023. That is a notable change from historical growth of 6.2% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 4.0% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Bossard Holding is expected to lag the wider industry.