Metso (MEO1V) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 7, neutral:6, positive:4 (total:17)
-1
+1-0.18
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
ABG Sundal Collier 31.00 31.00 0.0% 10.3% Buy Buy Unchanged 2017-02-03 
Barclays 26.00 23.00 13.0% -7.5% Equalweight Equalweight Unchanged 2017-01-17 
Berenberg Bank 26.00 Hold 2014-04-30 
BoA Merrill Lynch 27.00 Neutral 2017-01-12 
Carnegie 18.00 Sell 2016-07-14 
Citigroup 27.70 27.70 0.0% -1.4% Neutral Neutral Unchanged 2017-02-09 
Credit Suisse 25.00 25.00 0.0% -11.0% Neutral Neutral Unchanged 2017-02-09 
Danske Markets 33.00 33.00 0.0% 17.5% Buy Buy Unchanged 2017-02-05 
Deutsche Bank 
DNB Markets 28.50 28.50 0.0% 1.4% Hold Hold Unchanged 2017-02-03 
Espirito Santo 31.00 Neutral 2014-10-19 
Evli Bank 20.00 Reduce 2016-06-28 
Exane BNP Paribas 26.00 Neutral 2014-02-04 
Goldman Sachs 23.00 21.00 9.5% -18.1% Sell Sell Unchanged 2017-02-10 
Handelsbanken 26.50 27.00 -1.9% -5.7% Reduce Accumulate 2017-02-03 
Inderes 27.00 27.00 0.0% -3.9% Reduce Reduce Unchanged 2017-02-07 
JP Morgan Cazenove 22.50 22.50 0.0% -19.9% Underweight Underweight Unchanged 2017-02-03 
Kepler Cheuvreux 28.00 20.00 40.0% -0.3% Hold Hold Unchanged 2017-02-10 
Morgan Stanley 25.00 25.00 0.0% -11.0% Underweight Underweight Unchanged 2017-02-06 
Nordea Markets 28.00 28.00 0.0% -0.3% Hold Hold Unchanged 2017-02-06 
Pareto Securities 25.00 25.00 0.0% -11.0% Sell Sell Unchanged 2017-02-06 
Pohjola Bank 30.00 30.00 0.0% 6.8% Accumulate Accumulate Unchanged 2017-02-06 
RBC Capital Markets 
SEB Enskilda 33.00 33.00 0.0% 17.5% Buy Buy Unchanged 2017-02-06 
Swedbank 24.00 Buy 2016-04-18 
UBS 19.50 16.50 18.2% -30.6% Sell Sell Unchanged 2017-02-10 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 28.10       Number of Analysts 17     
Number of Analysts 17   24   - thereof positive Upgraded: 0 Analysts 
- Highest 33.00 17.5 33.00 0.0% - in % 23.5%     
- Consensus 26.98 -4.0 25.63 5.3% - thereof neutral Unchanged: 16 Analysts 
- Median 27.00 -3.9 26.00 3.8% - in % 35.3%     
- Lowest 19.50 -30.6 16.50 18.2% - thereof negative Downgraded: 1 Analysts 
          - in % 41.2%     
 
Price Target Analysis (in EUR)
Price targets (in EUR)
Share price (in EUR)
Recommendations (in %)
Positive
Neutral
Negative
General Data, Price Targets, Estimates and Valuation
General data (as of last trading day) Valuation2015 A2016 A2017 E2018 E2019 E
Market capitalisation (in Euro m)  P/E adj. 14.3 25.3 22.7 20.2 18.2 
Enterprise value (in Euro m) 104  P/E rep. 16.7 31.2 24.2 20.5 18.6 
Equity ratio 2016 44.4%  EV/Sales 1.48 1.28 1.60 1.52 1.44 
Sales, CAGR (16-19) 5.0%  EV/EBITA adj. 12.2 12.1 13.9 12.5 11.5 
EPS adj. CAGR (16-19) 12.9%  P/B 3.1 2.2 2.95 2.97 2.95 
Performance YTD 4.6  Div. yield 4.2% 5.1% 3.9% 4.0% 4.0% 
 
Consensus estimates (in EUR m)2016 AQ1 2017 E2017 EChange YoY
in %
2018 EChange YoY in %2019 EChange YoY in %
Sales 2,586 620 2,703 4.5% 2,847 5.3% 2,991 5.1% 
EBITA adj. 274 63 311 13.6% 345 10.8% 374 8.5% 
EBITA adj. margin 10.6% 10.1% 11.5% 12.1% 12.5% 
EPS adj. (in EUR) 1.07 0.24 1.24 15.7% 1.39 12.4% 1.54 10.6% 
EPS rep. (in EUR) 0.87 0.21 1.16 33.8% 1.37 17.8% 1.51 10.5% 
DPS (in EUR) 1.05 1.09 3.9% 1.12 2.7% 1.13 1.0% 
 
 
Annual and Quarterly Estimates Development
 
FY 2017 Consensus Estimates (in EUR m)
Net sales (left hand scale)
EBITA adj. (right hand scale)
Quarterly Development (in EUR m)
Net sales (left hand scale)
EBITA adj. (right hand scale)
 
*All estimates excl. any book gains from the PAS disposal
Last update on 10/02/2017
The earnings estimates of the following institutions were included in the above figures:
ABG Sundal Collier, Barclays, BoA Merrill Lynch, Carnegie, Citigroup, Credit Suisse, Danske Markets, DNB Markets, Goldman Sachs, Handelsbanken, Inderes, JP Morgan Cazenove, Kepler Cheuvreux, Morgan Stanley, Nordea Markets, Pareto Securities, Pohjola Bank, SEB Enskilda, UBS
 
Disclaimer
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.

file data build at 2017-03-28 03:00:28