Emaar Properties PJSC (DFM:EMAAR) Just Released Its Second-Quarter Earnings: Here's What Analysts Think

Emaar Properties PJSC (DFM:EMAAR) shareholders are probably feeling a little disappointed, since its shares fell 5.6% to د.إ11.14 in the week after its latest quarterly results. Results were roughly in line with estimates, with revenues of د.إ12b and statutory earnings per share of د.إ0.42. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

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After the latest results, the consensus from Emaar Properties PJSC's twelve analysts is for revenues of د.إ52.4b in 2026, which would reflect a noticeable 2.3% decline in revenue compared to the last year of performance. Statutory earnings per share are expected to sink 18% to د.إ1.79 in the same period. In the lead-up to this report, the analysts had been modelling revenues of د.إ52.8b and earnings per share (EPS) of د.إ2.01 in 2026. The analysts seem to have become more bearish following the latest results. While there were no changes to revenue forecasts, there was a real cut to EPS estimates.

View our latest analysis for Emaar Properties PJSC

It might be a surprise to learn that the consensus price target was broadly unchanged at د.إ16.75, with the analysts clearly implying that the forecast decline in earnings is not expected to have much of an impact on valuation. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Emaar Properties PJSC, with the most bullish analyst valuing it at د.إ20.50 and the most bearish at د.إ13.50 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 4.6% by the end of 2026. This indicates a significant reduction from annual growth of 17% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 11% per year. It's pretty clear that Emaar Properties PJSC's revenues are expected to perform substantially worse than the wider industry.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Emaar Properties PJSC going out to 2028, and you can see them free on our platform here..

And what about risks? Every company has them, and we've spotted 2 warning signs for Emaar Properties PJSC you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.