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

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

BRC Stock Performance

Shares of BRC stock opened at $3.26 on Wednesday. The stock has a market capitalization of $692.82 million, a price-to-earnings ratio of -40.75 and a beta of 1.16. The firm’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $4.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. BRC has a 12 month low of $2.60 and a 12 month high of $7.14.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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