Metso (MEO1V) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 6, neutral:6, positive:4 (total:16)
-1
+1-0.13
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
ABG Sundal Collier 32.00 32.00 0.0% 4.5% Hold Hold Unchanged 2017-06-01 
Barclays 29.00 28.00 3.6% -5.3% Equalweight Equalweight Unchanged 2017-04-25 
Berenberg Bank 26.00 Hold 2014-04-30 
BoA Merrill Lynch 28.50 27.00 5.6% -7.0% Underperform Underperform Unchanged 2017-04-25 
Carnegie 35.00 25.30 38.3% 14.3% Buy Sell 2017-04-26 
Citigroup 34.00 34.00 0.0% 11.0% Neutral Neutral Unchanged 2017-06-02 
Credit Suisse 25.00 Neutral 2017-04-13 
Danske Markets 44.00 33.00 33.3% 43.7% Buy Buy Unchanged 2017-04-25 
Deutsche Bank 
DNB Markets 28.50 Hold 2017-04-13 
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 24.00 24.00 0.0% -21.6% Sell Sell Unchanged 2017-06-02 
Handelsbanken 28.50 27.00 5.6% -7.0% Reduce Reduce Unchanged 2017-04-25 
Inderes 27.00 Reduce 2017-04-13 
JP Morgan Cazenove 24.00 22.50 6.7% -21.6% Underweight Underweight Unchanged 2017-06-01 
Kepler Cheuvreux 33.50 28.00 19.6% 9.4% Hold Hold Unchanged 2017-05-04 
Morgan Stanley 29.00 25.00 16.0% -5.3% Underweight Underweight Unchanged 2017-04-26 
Nordea Markets 30.00 28.00 7.1% -2.1% Hold Hold Unchanged 2017-04-26 
OP Corporate Bank 34.00 30.00 13.3% 11.0% Accumulate Accumulate Unchanged 2017-04-26 
Pareto Securities 29.00 25.00 16.0% -5.3% Hold Sell Upgrade 2017-04-26 
RBC Capital Markets 
SEB Enskilda 38.00 38.00 0.0% 24.1% Buy Buy Unchanged 2017-06-02 
Swedbank 24.00 Buy 2016-04-18 
UBS 22.50 19.50 15.4% -26.5% Sell Sell Unchanged 2017-04-27 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 30.63       Number of Analysts 16     
Number of Analysts 16   24   - thereof positive Upgraded: 1 Analysts 
- Highest 44.00 43.7 38.00 15.8% - in % 25.0%     
- Consensus 30.94 1.0 27.24 13.6% - thereof neutral Unchanged: 14 Analysts 
- Median 29.50 -3.7 27.00 9.3% - in % 37.5%     
- Lowest 22.50 -26.5 19.50 15.4% - thereof negative Downgraded: 0 Analysts 
          - in % 37.5%     
 
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) 4,595  P/E adj. 14.5 25.4 22.7 19.3 17.1 
Enterprise value (in Euro m) 4,654  P/E rep. 17.0 31.2 24.1 19.5 17.3 
Equity ratio 2016 44.4%  EV/Sales 1.48 1.30 1.66 1.54 1.45 
Sales, CAGR (16-19) 7.5%  EV/EBITA adj. 12.2 12.3 13.8 12.0 11.0 
EPS adj. CAGR (16-19) 18.6%  P/B 3.1 2.2 3.21 3.18 3.13 
Performance YTD 14.0  Div. yield 4.2% 5.0% 3.6% 3.7% 3.9% 
 
Consensus estimates (in EUR m)2016 AQ2 2017 E2017 EChange YoY
in %
2018 EChange YoY in %2019 EChange YoY in %
Sales 2,586 719 2,805 8.5% 3,023 7.8% 3,209 6.2% 
EBITA adj. 274 86 336 22.6% 387 15.1% 423 9.5% 
EBITA adj. margin 10.6% 11.9% 12.0% 12.8% 13.2% 
EPS adj. (in EUR) 1.07 0.35 1.35 25.9% 1.59 18.1% 1.79 12.3% 
EPS rep. (in EUR) 0.87 0.33 1.27 46.2% 1.57 23.8% 1.77 12.4% 
DPS (in EUR) 1.05 1.09 3.4% 1.13 4.2% 1.18 4.4% 
 
 
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 06/06/2017
The earnings estimates of the following institutions were included in the above figures:
ABG Sundal Collier, Barclays, BoA Merrill Lynch, Carnegie, Citigroup, Danske Markets, Goldman Sachs, Handelsbanken, Kepler Cheuvreux, Morgan Stanley, Nordea Markets, OP Corporate Bank, Pareto Securities, 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 2017-06-28 03:00:46