Byrna Technologies Inc. Beat Analyst Profit Forecasts, And Analysts Have New Estimates
As you might know, Byrna Technologies Inc. (NASDAQ:BYRN) recently reported its quarterly numbers. It looks like a credible result overall - although revenues of US$20m were what the analysts expected, Byrna Technologies surprised by delivering a statutory profit of US$0.09 per share, instead of the previously forecast loss. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Check out our latest analysis for Byrna Technologies
Taking into account the latest results, the consensus forecast from Byrna Technologies' dual analysts is for revenues of US$71.7m in 2024. This reflects a sizeable 20% improvement in revenue compared to the last 12 months. Losses are predicted to fall substantially, shrinking 84% to US$0.02. Before this earnings announcement, the analysts had been modelling revenues of US$70.8m and losses of US$0.02 per share in 2024.
The consensus price target rose 9.0% to US$18.13, with the analysts increasing their valuations as the business executes in line with forecasts.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 44% growth on an annualised basis. That is in line with its 40% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 2.3% annually. So although Byrna Technologies is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.
The Bottom Line
The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At least one analyst has provided forecasts out to 2026, which can be seen for free on our platform here.
And what about risks? Every company has them, and we've spotted 2 warning signs for Byrna Technologies you should know about.
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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.
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