Cicor Technologies Ltd. (VTX:CICN) Half-Yearly Results Just Came Out: Here's What Analysts Are Forecasting For This Year
As you might know, Cicor Technologies Ltd. (VTX:CICN) recently reported its interim numbers. It was a credible result overall, with revenues of CHF231m and statutory earnings per share of CHF1.37 both in line with analyst estimates, showing that Cicor Technologies is executing in line with expectations. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. 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 Cicor Technologies
Following the latest results, Cicor Technologies' four analysts are now forecasting revenues of CHF484.1m in 2024. This would be a decent 15% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to shoot up 21% to CHF3.85. In the lead-up to this report, the analysts had been modelling revenues of CHF482.3m and earnings per share (EPS) of CHF3.53 in 2024. The analysts seems to have become more bullish on the business, judging by their new earnings per share estimates.
There's been no major changes to the consensus price target of CHF71.15, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Cicor Technologies at CHF82.00 per share, while the most bearish prices it at CHF57.60. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Cicor Technologies shareholders.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Cicor Technologies' growth to accelerate, with the forecast 32% annualised growth to the end of 2024 ranking favourably alongside historical growth of 13% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 9.0% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Cicor Technologies is expected to grow much faster than its 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 Cicor Technologies following these results. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at CHF71.15, with the latest estimates not enough to have an impact on their price targets.
With that in mind, we wouldn't be too quick to come to a conclusion on Cicor Technologies. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Cicor Technologies going out to 2026, and you can see them free on our platform here..
However, before you get too enthused, we've discovered 2 warning signs for Cicor Technologies that 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.
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