Shareholders might have noticed that Tyman plc (LON:TYMN) filed its yearly result this time last week. The early response was not positive, with shares down 3.8% to UK£3.30 in the past week. It looks like a credible result overall - although revenues of UK£636m were in line with what the analysts predicted, Tyman surprised by delivering a statutory profit of UK£0.25 per share, a notable 12% above expectations. 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.

See our latest analysis for Tyman

Taking into account the latest results, Tyman's six analysts currently expect revenues in 2022 to be UK£645.8m, approximately in line with the last 12 months. Statutory per-share earnings are expected to be UK£0.25, roughly flat on the last 12 months. Before this earnings report, the analysts had been forecasting revenues of UK£641.7m and earnings per share (EPS) of UK£0.25 in 2022. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

There were no changes to revenue or earnings estimates or the price target of UK£4.95, suggesting that the company has met expectations in its recent result. 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 Tyman analyst has a price target of UK£5.25 per share, while the most pessimistic values it at UK£4.60. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Tyman's revenue growth is expected to slow, with the forecast 1.6% annualised growth rate until the end of 2022 being well below the historical 4.8% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.2% per year. Factoring in the forecast slowdown in growth, it seems obvious that Tyman is also expected to grow slower than other industry participants.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting sales are tracking in line with expectations - although our data does suggest that Tyman's revenues are expected to perform worse than the wider industry. The consensus price target held steady at UK£4.95, with the latest estimates not enough to have an impact on their price targets.