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

BRC (NYSE:BRCC) issued its earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. BRC had a positive return on equity of 23.81% and a negative net margin of 1.22%. During the same quarter in the previous year, the business earned ($0.05) EPS. BRC updated its FY 2024 guidance to EPS.

BRC Stock Up 1.6 %

Shares of BRC stock opened at $3.25 on Thursday. BRC has a 1-year low of $2.60 and a 1-year high of $7.14. The company has a market capitalization of $690.70 million, a PE ratio of -40.00 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 business has a 50-day moving average of $3.48 and a 200-day moving average of $4.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BRCC. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price target on shares of BRC in a research report on Thursday, October 31st. DA Davidson restated a “buy” rating and set a $5.50 target price on shares of BRC in a report on Wednesday, September 18th. Roth Mkm reaffirmed a “neutral” rating and set a $3.50 price target (down from $4.00) on shares of BRC in a research report on Wednesday. Finally, Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

Insider Buying and Selling

In other BRC news, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

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.