Havas N.V. (AMS:HAVAS) Half-Yearly Results Just Came Out: Here's What Analysts Are Forecasting For This Year
Havas N.V. (AMS:HAVAS) last week reported its latest interim results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. It was a credible result overall, with revenues of €1.4b and statutory earnings per share of €1.90 both in line with analyst estimates, showing that Havas is executing in line with expectations. 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 Havas after the latest results.
After the latest results, the consensus from Havas' seven analysts is for revenues of €2.86b in 2026, which would reflect a perceptible 2.2% decline in revenue compared to the last year of performance. Per-share earnings are expected to increase 5.0% to €2.14. Yet prior to the latest earnings, the analysts had been anticipated revenues of €2.85b and earnings per share (EPS) of €2.12 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
See our latest analysis for Havas
It will come as no surprise then, to learn that the consensus price target is largely unchanged at €21.30. 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 Havas, with the most bullish analyst valuing it at €27.00 and the most bearish at €18.00 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.
Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that revenue is expected to reverse, with a forecast 4.4% annualised decline to the end of 2026. That is a notable change from historical growth of 0.6% over the last year. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 2.2% per year. It's pretty clear that Havas' revenues are expected to perform substantially worse than the wider industry.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Havas' revenue is expected to 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. We have forecasts for Havas going out to 2028, and you can see them free on our platform here.
You can also view our analysis of Havas' balance sheet, and whether we think Havas is carrying too much debt, for free on our platform here.
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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.