CCL Industries Inc. (TSE:CCL.B) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat forecasts, with revenue of CA$1.8b, some 4.6% above estimates, and statutory earnings per share (EPS) coming in at CA$1.55, 53% ahead of expectations. 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.

Check out our latest analysis for CCL Industries

Taking into account the latest results, the most recent consensus for CCL Industries from eleven analysts is for revenues of CA$7.18b in 2024. If met, it would imply a reasonable 3.5% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to climb 11% to CA$4.23. Before this earnings report, the analysts had been forecasting revenues of CA$7.04b and earnings per share (EPS) of CA$4.14 in 2024. The analysts seems to have become more bullish on the business, judging by their new earnings per share estimates.

The consensus price target was unchanged at CA$84.55, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values CCL Industries at CA$90.00 per share, while the most bearish prices it at CA$80.00. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting CCL Industries is an easy business to forecast or the the analysts are all using similar assumptions.

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. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 7.2% growth on an annualised basis. That is in line with its 6.3% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 3.7% annually. So although CCL Industries is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards CCL Industries following these results. 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 said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple CCL Industries analysts - going out to 2025, and you can see them free on our platform here.

You still need to take note of risks, for example - CCL Industries has 1 warning sign we think you should be aware of.

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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.