Market forces rained on the parade of Holaluz-Clidom, S.A. (BME:HLZ) shareholders today, when the analysts downgraded their forecasts for this year. Revenue and earnings per share (EPS) forecasts were both revised downwards, with the analysts seeing grey clouds on the horizon.

After the downgrade, the twin analysts covering Holaluz-Clidom are now predicting revenues of €314m in 2020. If met, this would reflect a substantial 51% improvement in sales compared to the last 12 months. Losses are expected to turn into profits real soon, with the analysts forecasting €0.15 in per-share earnings €0.15. Before this latest update, the analysts had been forecasting revenues of €389m and earnings per share (EPS) of €0.20 in 2020. It looks like analyst sentiment has declined substantially, with a substantial drop in