Metso (METSO) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 3, neutral:6, positive:7 (total:16)
-1
+10.25
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
Anonymous 30.00 31.00 -3.2% 13.8% Hold Sell Upgrade 2018-10-26 
Barclays 30.00 30.00 0.0% 13.8% Equalweight Equalweight Unchanged 2018-10-26 
BoA Merrill Lynch 31.00 31.00 0.0% 17.6% Neutral Neutral Unchanged 2018-10-29 
Anonymous 38.00 Buy 2018-10-25 
Citigroup 33.40 36.00 -7.2% 26.7% Buy Buy Unchanged 2018-10-26 
Credit Suisse 31.00 Neutral 2018-10-25 
Anonymous 35.30 34.80 1.4% 33.9% Buy Buy Unchanged 2018-10-28 
DNB Markets 34.00 36.00 -5.6% 29.0% Buy Buy Unchanged 2018-10-29 
Goldman Sachs 32.00 30.00 6.7% 21.4% Neutral Neutral Unchanged 2018-10-31 
Handelsbanken 27.00 30.00 -10.0% 2.4% Reduce Reduce Unchanged 2018-10-28 
Inderes 28.00 30.00 -6.7% 6.2% Reduce Reduce Unchanged 2018-10-29 
Jefferies 27.00 50.00 -46.0% 2.4% Hold Hold Unchanged 2018-10-26 
JP Morgan Cazenove 32.00 34.50 -7.2% 21.4% Overweight Overweight Unchanged 2018-10-26 
Kepler Cheuvreux 29.00 29.00 0.0% 10.0% Reduce Reduce Unchanged 2018-10-26 
Morgan Stanley 33.00 33.00 0.0% 25.2% Overweight Overweight Unchanged 2018-10-26 
Morningstar 26.00 Hold 2017-01-12 
Anonymous 30.00 Hold Hold Unchanged 2018-10-29 
Pareto Securities 33.00 34.00 -2.9% 25.2% Buy Buy Unchanged 2018-10-29 
OP Corporate Bank 31.50 33.50 -6.0% 19.5% Accumulate Accumulate Unchanged 2018-10-30 
SEB Enskilda 35.00 Buy 2018-09-25 
UBS 26.00 Sell 2018-10-25 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 26.36       Number of Analysts 16     
Number of Analysts 15   21   =- thereof positive Upgraded: 1 Analysts 
=- Highest 35.30 33.9 50.00 -29.4% =- in % 43.8%     
=- Consensus 31.08 17.9 32.80 -5.2% =- thereof neutral Unchanged: 15 Analysts 
=- Median 31.50 19.5 31.00 1.6% =- in % 37.5%     
=- Lowest 27.00 2.4 26.00 3.8% =- thereof negative Downgraded: 0 Analysts 
          =- in % 18.8%     
 
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) Valuation2016 A2017 A2018 E2019 E2020 E
Market capitalisation (in Euro m) 3,954  P/E adj. 19.5 37.2 17.6 14.7 13.2 
Enterprise value (in Euro m) 4,144  P/E rep. 24.0 39.9 17.6 14.8 13.2 
Equity ratio 2017 41.1%  EV/Sales 1.30 1.54 1.34 1.19 1.11 
Sales, CAGR (16-19) 10.4%  EV/EBITA adj. 12.3 17.1 11.3 9.8 8.9 
EPS adj. CAGR (16-19) 18.6%  P/B 2.2 2.8 2.94 2.86 2.73 
Performance YTD -7.4  Div. yield 5.0% 3.9% 4.2% 4.3% 4.5% 
 
Consensus estimates (in EUR m)2017 AQ4 2018 E2018 EChange YoY
in %
2019 EChange YoY in %2020 EChange YoY in %
Sales 2,699 822 3,098 14.8% 3,476 12.2% 3,729 7.3% 
EBITA adj. 244 95 367 50.7% 425 15.7% 466 9.7% 
EBITA adj. margin 9.0% 11.6% 11.8% 12.2% 12.5% 
EPS adj. (in EUR) 0.73 0.39 1.50 106.1% 1.79 18.7% 1.99 11.5% 
EPS rep. (in EUR) 0.68 0.39 1.50 121.0% 1.78 18.7% 1.99 11.5% 
DPS (in EUR) 1.05 1.10 4.4% 1.14 4.4% 1.18 3.2% 
 
 
Annual and Quarterly Estimates Development
 
FY 2018 Consensus Estimates (in EUR m)
Sales (left hand scale)
EBITA adj. (right hand scale)
Quarterly Development (in EUR m)
Sales (left hand scale)
EBITA adj. (right hand scale)
 
*All estimates excl. any book gains from the PAS disposal
Last update on 12/11/2018
The earnings estimates of the following institutions were included in the above figures:
Anonymous, Barclays, BoA Merrill Lynch, Citigroup, Anonymous, DNB Markets, Goldman Sachs, Handelsbanken, Inderes, Jefferies, JP Morgan Cazenove, Kepler Cheuvreux, Morgan Stanley, Anonymous, OP Corporate Bank, Pareto Securities
 
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 2018-11-16 03:03:19