Venture Corporation Limited (SGX:V03) came out with its full-year results last week, and we wanted to see how the business is performing and what top analysts think of the company following this report. The result was positive overall - although revenues of S$3.6b were in line with what analysts predicted, Venture surprised by delivering a statutory profit of S$1.25 per share, modestly greater than expected. Earnings are an important time for investors, as they can track a company's performance, look at what top analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what analysts' statutory forecasts suggest is in store for next year.

View our latest analysis for Venture

Taking into account the latest results, the most recent consensus for Venture from eleven analysts is for revenues of S$3.76b in 2020, which is a credible 3.4% increase on its sales over the past 12 months. Statutory earnings per share are expected to rise 3.7% to S$1.31. In the lead-up to this report, analysts had been modelling revenues of S$3.72b and earnings per share (EPS) of S$1.28 in 2020. So it's pretty clear that, although analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

The consensus price target rose 5.7% to S$17.61 despite there being no meaningful change to earnings estimates. It could be that analysts are reflecting the predictability of Venture's earnings by assigning a price premium. The consensus price target just an average of individual analyst targets, so - considering that the price target changed, it would be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Venture at S$19.80 per share, while the most bearish prices it at S$14.70. Still, with such a tight range of estimates, it suggests analysts have a pretty good idea of what they think the company is worth.

In addition, we can look to Venture's past performance and see whether business is expected to improve, and if the company is expected to perform better than wider market. We would highlight that Venture's revenue growth is expected to slow, with forecast 3.4% increase next year well below the historical 9.3%p.a. growth over the last five years. By way of comparison, other companies in this market with analyst coverage, are forecast to grow their revenue at 15% per year. Factoring in the forecast slowdown in growth, it seems obvious that analysts still expect Venture to grow slower than the wider market.