Published on 1 May 2024 on Simply Wall St. via Yahoo Finance
Vonovia SE (ETR:VNA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. The market seems to be pricing in some improvement in the business too, with the stock up 5.4% over the past week, closing at €27.18. It will be interesting to see if this latest upgrade is enough to kickstart further buying interest in the stock.
Following the latest upgrade, the seven analysts covering Vonovia provided consensus estimates of €3.7b revenue in 2024, which would reflect a disturbing 40% decline on its sales over the past 12 months. Losses are predicted to fall substantially, shrinking 56% to €2.10 per share. However, before this estimates update, the consensus had been expecting revenues of €3.3b and €1.75 per share in losses. Ergo, there's been a clear change in sentiment, with the analysts lifting this year's revenue estimates, while at the same time increasing their loss per share forecasts to reflect the cost of achieving this growth.