BRC (NYSE:BRCC) Announces Quarterly Earnings Results

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

BRC Stock Up 6.0 %

NYSE:BRCC traded up $0.19 during mid-day trading on Tuesday, hitting $3.35. 945,467 shares of the company’s stock traded hands, compared to its average volume of 892,932. The company has a market capitalization of $711.94 million, a P/E ratio of -27.75 and a beta of 1.16. 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 company has a fifty day moving average of $3.52 and a 200 day moving average of $4.67. BRC has a twelve month low of $2.60 and a twelve month high of $7.14.

Wall Street Analysts Forecast Growth

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

Insider Activity at BRC

In related 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 transaction of $41,468.04. Following the transaction, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction 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 sale, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is owned by corporate insiders.

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.