Multiconsult ASA Just Missed EPS By 24%: Here's What Analysts Think Will Happen Next

The analysts might have been a bit too bullish on Multiconsult ASA (OB:MULTI), given that the company fell short of expectations when it released its second-quarter results last week. It wasn't a great result overall - while revenue fell marginally short of analyst estimates at kr1.5b, statutory earnings missed forecasts by an incredible 24%, coming in at just kr3.23 per share. 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Multiconsult after the latest results.

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Taking into account the latest results, the consensus forecast from Multiconsult's four analysts is for revenues of kr6.01b in 2026. This reflects a credible 2.7% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to rise 9.2% to kr11.01. Yet prior to the latest earnings, the analysts had been anticipated revenues of kr6.12b and earnings per share (EPS) of kr12.45 in 2026. So there's definitely been a decline in sentiment after the latest results, noting the substantial drop in new EPS forecasts.

Check out our latest analysis for Multiconsult

The average price target fell 8.0% to kr163, with reduced earnings forecasts clearly tied to a lower valuation estimate. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Multiconsult analyst has a price target of kr175 per share, while the most pessimistic values it at kr155. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Multiconsult's revenue growth is expected to slow, with the forecast 5.5% annualised growth rate until the end of 2026 being well below the historical 10.0% p.a. growth over the last five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 5.4% annually. So it's pretty clear that, while Multiconsult's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Multiconsult. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Multiconsult analysts - going out to 2028, and you can see them free on our platform here.

Even so, be aware that Multiconsult is showing 2 warning signs in our investment analysis , 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.