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There's been a notable change in appetite for Carl Zeiss Meditec AG (ETR:AFX) shares in the week since its yearly report, with the stock down 15% to €49.30. Revenues were €2.1b, approximately in line with expectations, although statutory earnings per share (EPS) performed substantially better. EPS of €2.01 were also better than expected, beating analyst predictions by 11%. 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. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
See our latest analysis for Carl Zeiss Meditec
Taking into account the latest results, the current consensus from Carl Zeiss Meditec's 13 analysts is for revenues of €2.19b in 2025. This would reflect a satisfactory 5.8% increase on its revenue over the past 12 months. Statutory earnings per share are forecast to decrease 5.4% to €1.93 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of €2.28b and earnings per share (EPS) of €2.39 in 2025. The analysts seem less optimistic after the recent results, reducing their revenue forecasts and making a real cut to earnings per share numbers.
Despite the cuts to forecast earnings, there was no real change to the €64.23 price target, showing that the analysts don't think the changes have a meaningful impact on its intrinsic value. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Carl Zeiss Meditec, with the most bullish analyst valuing it at €86.50 and the most bearish at €40.00 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.
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 Carl Zeiss Meditec's revenue growth is expected to slow, with the forecast 5.8% annualised growth rate until the end of 2025 being well below the historical 9.8% p.a. growth over the last five years. Compare this to the 14 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 5.8% per year. Factoring in the forecast slowdown in growth, it looks like Carl Zeiss Meditec is forecast to grow at about the same rate as the wider industry.