Shareholders might have noticed that Envista Holdings Corporation (NYSE:NVST) filed its annual result this time last week. The early response was not positive, with shares down 5.6% to US$22.44 in the past week. Revenues came in at US$2.6b, in line with estimates, while Envista Holdings reported a statutory loss of US$0.60 per share, well short of prior analyst forecasts for a profit. 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 thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for Envista Holdings

Taking into account the latest results, Envista Holdings' twelve analysts currently expect revenues in 2024 to be US$2.60b, approximately in line with the last 12 months. Earnings are expected to improve, with Envista Holdings forecast to report a statutory profit of US$1.06 per share. Before this earnings report, the analysts had been forecasting revenues of US$2.60b and earnings per share (EPS) of US$1.24 in 2024. So there's definitely been a decline in sentiment after the latest results, noting the real cut to new EPS forecasts.

It might be a surprise to learn that the consensus price target fell 8.5% to US$26.00, with the analysts clearly linking lower forecast earnings to the performance of the stock price. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Envista Holdings, with the most bullish analyst valuing it at US$33.00 and the most bearish at US$20.00 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.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. From these estimates it looks as though the analysts expect the years of declining revenue to come to an end, given the flat forecast out to 2024. That would be a definite improvement, given that the past five years have seen revenue shrink 0.5% annually. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 8.0% per year. Although Envista Holdings' revenues are expected to improve, it seems that it is still expected to grow slower than the wider industry.