Metso (MEO1V) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 4, neutral:9, positive:3 (total:16)
-1
+1-0.06
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
ABG Sundal Collier 29.00 23.50 23.4% 18.1% Buy Hold Upgrade 2016-11-09 
Barclays 23.00 23.00 0.0% -6.3% Equalweight Equal Weight Unchanged 2016-10-24 
Berenberg Bank 26.00 Hold 2014-04-30 
BoA Merrill Lynch 27.00 27.00 0.0% 10.0% Neutral Neutral Unchanged 2016-10-24 
Carnegie 25.30 18.00 40.6% 3.1% Sell 2016-10-24 
Citigroup 24.80 25.40 -2.4% 1.0% Neutral Neutral Unchanged 2016-10-24 
Credit Suisse 25.00 25.00 0.0% 1.8% Neutral Neutral Unchanged 2016-10-27 
Danske Markets 29.00 30.00 -3.3% 18.1% Buy Buy Unchanged 2016-10-24 
Deutsche Bank 
DNB Markets 26.00 27.00 -3.7% 5.9% Hold Hold Unchanged 2016-10-24 
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 21.00 Sell 2016-11-09 
Handelsbanken 27.00 Accumulate 2016-09-15 
Inderes 23.00 23.00 0.0% -6.3% Reduce Reduce Unchanged 2016-10-22 
JP Morgan Cazenove 19.00 18.00 5.6% -22.6% Underweight Underweight Unchanged 2016-11-02 
Kepler Cheuvreux 25.00 20.00 25.0% 1.8% Hold Hold Unchanged 2016-11-08 
Morgan Stanley 24.00 26.00 -7.7% -2.2% Underweight Underweight Unchanged 2016-10-24 
Nordea Markets 26.00 27.00 -3.7% 5.9% Hold Hold Unchanged 2016-10-24 
Pareto Öhman 26.00 27.00 -3.7% 5.9% Hold Hold Unchanged 2016-10-24 
Pohjola Bank 27.00 26.00 3.8% 10.0% Accumulate Accumulate Unchanged 2016-10-24 
RBC Capital Markets 
SEB Enskilda 26.00 26.00 0.0% 5.9% Hold Hold Unchanged 2016-11-08 
Swedbank 24.00 Buy 2016-04-18 
UBS 16.50 16.50 0.0% -32.8% Sell Sell Unchanged 2016-10-26 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 24.55       Number of Analysts 16     
Number of Analysts 17   24   - thereof positive Upgraded: 1 Analysts 
- Highest 29.00 18.1 31.00 -6.5% - in % 18.8%     
- Consensus 24.80 1.0 24.31 2.0% - thereof neutral Unchanged: 15 Analysts 
- Median 25.30 3.1 25.70 -1.6% - in % 56.3%     
- Lowest 16.50 -32.8 16.50 0.0% - thereof negative Downgraded: 0 Analysts 
          - in % 25.0%     
 
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) Valuation2014 A2015 A2016 E2017 E2018 E
Market capitalisation (in Euro m) 3,690  P/E adj. 13.5 14.4 21.3 20.1 18.1 
Enterprise value (in Euro m) 3,880  P/E rep. 20.0 16.8 25.3 20.5 18.2 
Equity ratio 2015 45.0%  EV/Sales 1.13 1.48 1.48 1.44 1.39 
Sales, CAGR (15-18) -1.5%  EV/EBITA adj. 9.0 12.2 13.3 12.6 11.7 
EPS adj. CAGR (15-18) -1.8%  P/B 3.0 3.1 2.56 2.60 2.56 
Performance YTD 23.0  Div. yield 4.5% 4.2% 4.3% 4.4% 4.5% 
 
Consensus estimates (in EUR m)2015 AQ4 2016 E2016 EChange YoY
in %
2017 EChange YoY in %2018 EChange YoY in %
Sales 2,923 710 2,620 -10.4% 2,691 2.7% 2,797 4.0% 
EBITA adj. 356 81 291 -18.1% 307 5.4% 333 8.4% 
EBITA adj. margin 12.2% 11.4% 11.1% 11.4% 11.9% 
EPS adj. (in EUR) 1.44 0.35 1.15 -20.4% 1.22 6.5% 1.36 11.7% 
EPS rep. (in EUR) 1.23 0.27 0.97 -21.3% 1.20 24.2% 1.35 12.0% 
DPS (in EUR) 1.05 1.05 0.0% 1.08 2.9% 1.10 2.2% 
 
 
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 01/12/2016
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, Inderes, JP Morgan Cazenove, Kepler Cheuvreux, Morgan Stanley, Nordea Markets, Pareto Öhman, 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 2016-12-04 03:00:56