There's been a notable change in appetite for AIXTRON SE (ETR:AIXA) shares in the week since its full-year report, with the stock down 13% to €28.32. It was a credible result overall, with revenues of €630m and statutory earnings per share of €1.29 both in line with analyst estimates, showing that AIXTRON 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 AIXTRON after the latest results.

View our latest analysis for AIXTRON

After the latest results, the 14 analysts covering AIXTRON are now predicting revenues of €677.2m in 2024. If met, this would reflect an okay 7.5% improvement in revenue compared to the last 12 months. Statutory per share are forecast to be €1.30, approximately in line with the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of €695.0m and earnings per share (EPS) of €1.43 in 2024. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a small dip in earnings per share estimates.

The consensus price target fell 11% to €35.14, with the weaker earnings outlook clearly leading valuation estimates. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on AIXTRON, with the most bullish analyst valuing it at €50.00 and the most bearish at €24.60 per share. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the AIXTRON's past performance and to peers in the same industry. We would highlight that AIXTRON's revenue growth is expected to slow, with the forecast 7.5% annualised growth rate until the end of 2024 being well below the historical 20% 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) 8.2% annually. Factoring in the forecast slowdown in growth, it looks like AIXTRON is forecast to grow at about the same rate as the wider industry.