Metso (METSO) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 7, neutral:4, positive:9 (total:20)
-1
+10.10
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
ABG Sundal Collier 27.00 26.50 1.9% -8.6% Sell Sell Unchanged 2018-07-13 
Barclays 27.00 26.50 1.9% -8.6% Underweight Underweight Unchanged 2018-07-10 
BoA Merrill Lynch 29.00 25.50 13.7% -1.8% Underperform Underperform Unchanged 2018-07-09 
Carnegie 36.00 33.00 9.1% 21.9% Buy Buy Unchanged 2018-04-26 
Citigroup 34.00 34.00 0.0% 15.1% Buy Buy Unchanged 2018-07-12 
Credit Suisse 27.00 27.00 0.0% -8.6% Neutral Neutral Unchanged 2018-07-02 
Danske Markets 34.00 34.00 0.0% 15.1% Buy Buy Unchanged 2018-07-05 
DNB Markets 35.00 33.00 6.1% 18.5% Buy Buy Unchanged 2018-06-26 
Goldman Sachs 29.00 28.00 3.6% -1.8% Neutral Neutral Unchanged 2018-07-12 
Handelsbanken 33.00 27.50 20.0% 11.7% Accumulate Reduce 2018-05-08 
Inderes 30.00 28.00 7.1% 1.6% Reduce Reduce Unchanged 2018-05-30 
Jefferies 27.00 27.00 0.0% -8.6% Hold Hold Unchanged 2018-05-15 
JP Morgan Cazenove 26.00 26.00 0.0% -12.0% Underweight Underweight Unchanged 2018-07-09 
Kepler Cheuvreux 27.00 26.00 3.8% -8.6% Reduce Reduce Unchanged 2018-05-04 
Morgan Stanley 30.00 30.00 0.0% 1.6% Overweight Overweight Unchanged 2018-07-10 
Nordea Markets 30.00 Hold Hold Unchanged 2018-07-11 
OP Corporate Bank 31.00 30.00 3.3% 4.9% Accumulate Accumulate Unchanged 2018-04-26 
Pareto Securities 35.00 35.00 0.0% 18.5% Buy Buy Unchanged 2018-06-20 
SEB Enskilda 33.00 33.00 0.0% 11.7% Buy Buy Unchanged 2018-04-25 
UBS 25.00 25.00 0.0% -15.4% Sell Sell Unchanged 2018-07-09 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 29.54       Number of Analysts 20     
Number of Analysts 19   20   - thereof positive Upgraded: 0 Analysts 
- Highest 36.00 21.9 35.00 2.9% - in % 45.0%     
- Consensus 30.26 2.4 29.25 3.5% - thereof neutral Unchanged: 19 Analysts 
- Median 30.00 1.6 28.00 7.1% - in % 20.0%     
- Lowest 25.00 -15.4 25.00 0.0% - thereof negative Downgraded: 0 Analysts 
          - in % 35.0%     
 
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) 4,431  P/E adj. 19.5 37.2 20.8 17.5 15.6 
Enterprise value (in Euro m) 4,595  P/E rep. 24.0 39.9 21.1 17.8 15.9 
Equity ratio 2017 0.0%  EV/Sales 1.30 1.54 1.53 1.40 1.32 
Sales, CAGR (16-19) 8.3%  EV/EBITA adj. 12.3 17.1 13.1 11.5 10.5 
EPS adj. CAGR (16-19) 16.5%  P/B 2.2 2.8 3.30 3.21 3.06 
Performance YTD 3.8  Div. yield 5.0% 3.9% 3.7% 3.9% 4.1% 
 
Consensus estimates (in EUR m)2017 AQ2 2018 E2018 EChange YoY
in %
2019 EChange YoY in %2020 EChange YoY in %
Sales 2,699 744 2,996 11.0% 3,288 9.7% 3,494 6.3% 
EBITA adj. 244 86 350 43.4% 401 14.5% 436 8.9% 
EBITA adj. margin 9.0% 11.6% 11.7% 12.2% 12.5% 
EPS adj. (in EUR) 0.73 0.35 1.42 95.0% 1.69 19.0% 1.89 11.4% 
EPS rep. (in EUR) 0.68 0.35 1.40 105.5% 1.66 19.0% 1.86 11.9% 
DPS (in EUR) 1.05 1.09 4.0% 1.14 4.5% 1.20 5.4% 
 
 
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 18/07/2018
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, Jefferies, JP Morgan Cazenove, 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 2018-07-19 03:01:05