Today is shaping up negative for MAG Interactive AB (publ) (STO:MAGI) shareholders, with the covering analyst delivering a substantial negative revision to this year’s forecasts. Both revenue and earnings per share (EPS) estimates were cut sharply as the analyst factored in the latest outlook for the business, concluding that they were too optimistic previously.
Following the latest downgrade, the lone analyst covering MAG Interactive provided consensus estimates of kr198m revenue in 2020, which would reflect a measurable 3.6% decline on its sales over the past 12 months. Per-share losses are expected to creep up to kr0.51. However, before this estimates update, the consensus had been expecting revenues of kr231m and kr0.04 per share in losses. So there’s been quite a change-up of views after the recent