Also means
esteemed
Usage Note
Estimado has two distinct functions: as a past participle of estimar it means 'estimated' (un valor estimado de mil euros), and as an adjective of respect it means 'esteemed' or 'dear.' The latter sense appears in formal salutations: Estimado señor García is the Spanish equivalent of 'Dear Mr García' in business letters. Confusing the two senses in context is a common learner error.
Examples
"El coste estimado asciende a dos millones."
Natural Translation
The estimated cost amounts to two million.

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