BRC (NYSE:BRCC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

BRC (NYSE:BRCC) posted its quarterly earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.06 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. BRC updated its FY 2024 guidance to EPS.

BRC Trading Up 5.7 %

Shares of BRC stock traded up $0.18 during trading hours on Tuesday, hitting $3.34. The company’s stock had a trading volume of 906,541 shares, compared to its average volume of 892,750. The company has a market capitalization of $709.82 million, a PE ratio of -27.75 and a beta of 1.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The stock has a 50 day moving average of $3.52 and a 200 day moving average of $4.67. BRC has a 12 month low of $2.60 and a 12 month high of $7.14.

Insider Activity

In related news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock worth $12,811,468 in the last 90 days. Corporate insiders own 73.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 target price on shares of BRC in a report on Thursday, October 31st. DA Davidson reiterated a “buy” rating and issued a $5.50 price objective on shares of BRC in a report on Wednesday, September 18th. Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.00 in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.