There's been a notable change in appetite for SÜSS MicroTec SE (ETR:SMHN) shares in the week since its first-quarter report, with the stock down 10% to €22.25. It looks like a pretty bad result, all things considered. Although revenues of €70m were in line with analyst predictions, statutory earnings fell badly short, missing estimates by 31% to hit €0.11 per share. 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. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

See our latest analysis for SÜSS MicroTec

After the latest results, the four analysts covering SÜSS MicroTec are now predicting revenues of €342.5m in 2023. If met, this would reflect a decent 12% improvement in sales compared to the last 12 months. Statutory earnings per share are predicted to increase 9.8% to €1.45. Before this earnings report, the analysts had been forecasting revenues of €341.0m and earnings per share (EPS) of €1.44 in 2023. 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 9.3% to €29.25. It looks as though they previously had some doubts over whether the business would live up to their expectations. 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. There are some variant perceptions on SÜSS MicroTec, with the most bullish analyst valuing it at €33.00 and the most bearish at €23.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the SÜSS MicroTec's past performance and to peers in the same industry. It's clear from the latest estimates that SÜSS MicroTec's rate of growth is expected to accelerate meaningfully, with the forecast 16% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 9.7% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 8.8% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect SÜSS MicroTec to grow faster than the wider industry.

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. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

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 SÜSS MicroTec analysts - going out to 2025, and you can see them free on our platform here.

You can also see our analysis of SÜSS MicroTec's Board and CEO remuneration and experience, and whether company insiders have been buying stock.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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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