It's been a good week for DTE Energy Company (NYSE:DTE) shareholders, because the company has just released its latest third-quarter results, and the shares gained 3.4% to US$100. DTE Energy's revenues suffered a catastrophic miss, falling 46% short of forecasts, at US$2.9b. Statutory earnings per share however performed much better, hitting US$4.74, 157% above forecast. 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 gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

Check out our latest analysis for DTE Energy

After the latest results, the ten analysts covering DTE Energy are now predicting revenues of US$17.5b in 2024. If met, this would reflect a major 27% improvement in revenue compared to the last 12 months. Per-share earnings are expected to swell 11% to US$6.68. In the lead-up to this report, the analysts had been modelling revenues of US$17.9b and earnings per share (EPS) of US$6.70 in 2024. The consensus seems maybe a little more pessimistic, trimming their revenue forecasts after the latest results even though there was no change to its EPS estimates.

The average price target was reduced 5.9% to US$111, with the lower revenue forecasts indicating negative sentiment towards DTE Energy, even though earnings forecasts were unchanged. 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. Currently, the most bullish analyst values DTE Energy at US$124 per share, while the most bearish prices it at US$103. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that DTE Energy's rate of growth is expected to accelerate meaningfully, with the forecast 21% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 6.8% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 3.7% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that DTE Energy is expected to grow much faster than its 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. Regrettably, they also downgraded their revenue estimates, but the latest forecasts still imply the business will grow faster than the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of DTE Energy's future valuation.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for DTE Energy going out to 2025, and you can see them free on our platform here..

Plus, you should also learn about the 3 warning signs we've spotted with DTE Energy (including 1 which is potentially serious) .

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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.