Metso (METSO) - LANDING PAGE



Recommendations and Price Targets
Recommendations
negative: 4, neutral:3, positive:8 (total:15)
-1
+10.27
AuthorityPrice targets (in EUR)Recommendations
 CurrentPreviousChangeUpside/DownsideCurrentPreviousChangeLast Update
ABG Sundal Collier 31.00 27.00 14.8% 4.4% Hold Sell Upgrade 2018-07-26 
Barclays 30.00 27.00 11.1% 1.0% Equalweight Underweight Upgrade 2018-07-26 
BoA Merrill Lynch 30.00 29.00 3.4% 1.0% Underperform Underperform Unchanged 2018-07-27 
Carnegie 38.00 36.00 5.6% 27.9% Buy Buy Unchanged 2018-07-26 
Citigroup 36.00 34.00 5.9% 21.2% Buy Buy Unchanged 2018-07-26 
Credit Suisse 27.00 Neutral 2018-07-18 
Danske Markets 36.40 34.00 7.1% 22.6% Buy Buy Unchanged 2018-07-26 
DNB Markets 36.00 35.00 2.9% 21.2% Buy Buy Unchanged 2018-07-27 
Goldman Sachs 29.00 Neutral 2018-07-18 
Handelsbanken 35.00 33.00 6.1% 17.8% Accumulate Accumulate Unchanged 2018-07-26 
Inderes 30.00 30.00 0.0% 1.0% Reduce Reduce Unchanged 2018-07-27 
Jefferies 27.00 Hold 2018-07-18 
JP Morgan Cazenove 28.00 26.00 7.7% -5.7% Underweight Underweight Unchanged 2018-07-26 
Kepler Cheuvreux 27.00 Reduce 2018-07-18 
Morgan Stanley 30.00 Overweight 2018-07-18 
Morningstar 2018-07-26 
Nordea Markets 30.00 Hold Hold Unchanged 2018-07-27 
OP Corporate Bank 33.50 31.00 8.1% 12.8% Accumulate Accumulate Unchanged 2018-07-27 
Pareto Securities 36.00 35.00 2.9% 21.2% Buy Buy Unchanged 2018-07-26 
SEB Enskilda 35.00 33.00 6.1% 17.8% Buy Buy Unchanged 2018-07-26 
UBS 25.00 25.00 0.0% -15.8% Sell 2018-07-26 
 CurrentUp-/DownsidePreviousChangeRecommendationsCurrentChanges 
Price (in EUR)  (as of last trading day) 29.70       Number of Analysts 15     
Number of Analysts 14   20   - thereof positive Upgraded: 2 Analysts 
- Highest 38.00 27.9 36.00 5.6% - in % 53.3%     
- Consensus 32.85 10.6 30.25 8.6% - thereof neutral Unchanged: 12 Analysts 
- Median 34.25 15.3 30.00 14.2% - in % 20.0%     
- Lowest 25.00 -15.8 25.00 0.0% - thereof negative Downgraded: 0 Analysts 
          - in % 26.7%     
 
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) 4,455  P/E adj. 19.5 37.2 20.5 17.1 15.0 
Enterprise value (in Euro m) 4,730  P/E rep. 24.0 39.9 20.6 17.1 15.0 
Equity ratio 2017 0.0%  EV/Sales 1.30 1.54 1.55 1.39 1.28 
Sales, CAGR (16-19) 9.6%  EV/EBITA adj. 12.3 17.1 13.1 11.3 10.2 
EPS adj. CAGR (16-19) 17.7%  P/B 2.2 2.8 3.31 3.22 3.07 
Performance YTD 4.3  Div. yield 5.0% 3.9% 3.7% 3.9% 4.1% 
 
Consensus estimates (in EUR m)2017 AQ3 2018 E2018 EChange YoY
in %
2019 EChange YoY in %2020 EChange YoY in %
Sales 2,699 762 3,055 13.2% 3,402 11.3% 3,684 8.3% 
EBITA adj. 244 91 361 48.2% 419 16.0% 462 10.4% 
EBITA adj. margin 9.0% 11.9% 11.8% 12.3% 12.5% 
EPS adj. (in EUR) 0.73 0.38 1.45 98.1% 1.74 20.6% 1.98 13.7% 
EPS rep. (in EUR) 0.68 0.38 1.44 112.3% 1.74 20.6% 1.98 13.8% 
DPS (in EUR) 1.05 1.10 5.1% 1.16 5.1% 1.23 5.8% 
 
 
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 03/08/2018
The earnings estimates of the following institutions were included in the above figures:
ABG Sundal Collier, Barclays, BoA Merrill Lynch, Carnegie, Citigroup, Danske Markets, DNB Markets, Handelsbanken, Inderes, JP Morgan Cazenove, Morningstar, 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 2018-09-23 03:03:19