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

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

BRC Trading Up 3.2 %

Shares of BRC stock traded up $0.10 on Tuesday, reaching $3.26. The company had a trading volume of 1,517,313 shares, compared to its average volume of 895,599. The firm's 50 day moving average price is $3.52 and its two-hundred day moving average price is $4.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. BRC has a 52-week low of $2.60 and a 52-week high of $7.14. The firm has a market cap of $692.82 million, a PE ratio of -27.41 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRCC. DA Davidson restated a "buy" rating and set a $5.50 price objective on shares of BRC in a report on Wednesday, September 18th. Telsey Advisory Group reiterated an "outperform" rating and set a $6.00 price objective on shares of BRC in a research note on Thursday, October 31st. Roth Mkm lowered BRC from a "buy" rating to a "neutral" rating and cut their price objective for the company from $8.00 to $4.00 in a report on Friday, August 9th. Finally, Roth Capital downgraded BRC from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Three 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, BRC has a consensus rating of "Moderate Buy" and a consensus target price of $6.63.

Insider Transactions at BRC

In related news, Director Evan Hafer sold 1,000,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Evan Hafer sold 1,000,000 shares of the business'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 value of $3,170,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the firm's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last ninety days. Company insiders own 73.80% of the company's stock.

BRC Company Profile

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.