Roth Capital Has Negative Outlook of BRC FY2024 Earnings

BRC Inc. (NYSE:BRCC - Free Report) - Stock analysts at Roth Capital cut their FY2024 earnings estimates for shares of BRC in a report released on Tuesday, November 5th. Roth Capital analyst G. Kelly now forecasts that the company will post earnings of $0.00 per share for the year, down from their previous forecast of $0.01. Roth Capital currently has a "Hold" rating on the stock. The consensus estimate for BRC's current full-year earnings is ($0.02) per share. Roth Capital also issued estimates for BRC's Q4 2024 earnings at $0.00 EPS, Q1 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at $0.03 EPS.

A number of other equities research analysts have also recently issued reports on BRCC. Roth Mkm reissued a "neutral" rating and issued a $3.50 target price (down previously from $4.00) on shares of BRC in a research report on Wednesday. DA Davidson restated a "buy" rating and set a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $6.00 price target on shares of BRC in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $6.50.

BRC Stock Performance

BRCC traded down $0.14 on Thursday, reaching $3.07. The company had a trading volume of 735,817 shares, compared to its average volume of 898,603. The company's fifty day moving average is $3.46 and its 200 day moving average is $4.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The stock has a market cap of $651.39 million, a P/E ratio of -38.31 and a beta of 1.16. BRC has a fifty-two week low of $2.60 and a fifty-two week high of $7.14.

BRC (NYSE:BRCC - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. BRC had a positive return on equity of 23.81% and a negative net margin of 1.22%. The company 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 company posted ($0.05) EPS.

Institutional Investors Weigh In On BRC

Several hedge funds have recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of BRC by 316.4% during the first quarter. Comerica Bank now owns 6,054 shares of the company's stock worth $26,000 after purchasing an additional 4,600 shares during the period. nVerses Capital LLC bought a new stake in shares of BRC in the 2nd quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BRC in the first quarter valued at about $45,000. Smith Thornton Advisors LLC bought a new position in shares of BRC during the third quarter worth about $45,000. Finally, United Asset Strategies Inc. acquired a new position in shares of BRC in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 16.29% of the company's stock.

Insider Transactions at BRC

In other BRC news, Director Evan Hafer sold 1,000,000 shares of BRC stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. In related news, Director Thomas E. Davin sold 10,884 shares of the 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 transaction, the director now owns 15,851 shares of the company's stock, valued at $60,392.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $3,170,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,010,884 shares of company stock valued at $12,811,468. Corporate insiders own 73.80% of the company's stock.

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.