As you might know, UFP Technologies, Inc. (NASDAQ:UFPT) just kicked off its latest quarterly results with some very strong numbers. The company beat forecasts, with revenue of US$105m, some 7.9% above estimates, and statutory earnings per share (EPS) coming in at US$1.64, 50% ahead of expectations. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for UFP Technologies

Following the latest results, UFP Technologies' three analysts are now forecasting revenues of US$438.0m in 2024. This would be a modest 7.5% improvement in revenue compared to the last 12 months. Per-share earnings are expected to rise 5.6% to US$6.62. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$431.7m and earnings per share (EPS) of US$5.93 in 2024. Although the revenue estimates have not really changed, we can see there's been a decent improvement in earnings per share expectations, suggesting that the analysts have become more bullish after the latest result.

The consensus price target rose 8.0% to US$263, suggesting that higher earnings estimates flow through to the stock's valuation as well. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values UFP Technologies at US$270 per share, while the most bearish prices it at US$255. 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. It's pretty clear that there is an expectation that UFP Technologies' revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 10% growth on an annualised basis. This is compared to a historical growth rate of 19% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 8.1% annually. Factoring in the forecast slowdown in growth, it looks like UFP Technologies is forecast to grow at about the same rate as the wider industry.

The Bottom Line

The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around UFP Technologies' earnings potential next year. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple UFP Technologies analysts - going out to 2025, and you can see them free on our platform here.

You still need to take note of risks, for example - UFP Technologies has 1 warning sign we think you should be aware of.

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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.