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Shareholders of Heidelberger Druckmaschinen Aktiengesellschaft (ETR:HDD) will be pleased this week, given that the stock price is up 16% to €1.34 following its latest yearly results. Revenues were in line with forecasts, at €2.4b, although statutory earnings per share came in 11% below what the analysts expected, at €0.13 per share. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. 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 Heidelberger Druckmaschinen
Following last week's earnings report, Heidelberger Druckmaschinen's three analysts are forecasting 2025 revenues to be €2.41b, approximately in line with the last 12 months. Per-share earnings are expected to swell 12% to €0.14. In the lead-up to this report, the analysts had been modelling revenues of €2.41b and earnings per share (EPS) of €0.14 in 2025. 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.
With the analysts reconfirming their revenue and earnings forecasts, it's surprising to see that the price target rose 8.8% to €1.85. It looks as though they previously had some doubts over whether the business would live up to their expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Heidelberger Druckmaschinen analyst has a price target of €2.00 per share, while the most pessimistic values it at €1.55. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Heidelberger Druckmaschinen's past performance and to peers in the same industry. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 0.6% by the end of 2025. This indicates a significant reduction from annual growth of 0.4% 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 4.4% annually for the foreseeable future. It's pretty clear that Heidelberger Druckmaschinen's revenues are expected to perform substantially worse than the wider industry.