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

BRC (NYSE:BRCC - Get Free Report) revealed its quarterly earnings results on Monday. The company reported earnings per share (EPS) of ($0.01) for the quarter, surpassing analysts' expectations of ($0.02) by $0.01, as reported by Zacks. BRC's financial metrics included a negative net margin of 1.88% and a positive return on equity of 17.53%. The company generated revenue of $98.20 million during this quarter, exceeding the consensus estimate of $95.06 million. A year ago, the company had reported earnings of ($0.05) per share during the same quarter. In light of the recent results, BRC has updated its guidance for fiscal year 2024 regarding EPS.

BRC Stock Sees Increase

On Tuesday, BRC stock increased by 5.7%, rising $0.18 to reach a price of $3.34. The trading volume during this session reached 906,541 shares, while the average volume stands at 892,750 shares. The current market capitalization of the company is approximately $709.82 million. Currently, BRC stock has a PE ratio of -27.75 and a beta of 1.16. Its debt-to-equity ratio is 1.01, with a current ratio of 1.07 and a quick ratio of 0.59. As for stock performance, BRC has a 50-day moving average of $3.52 and a 200-day moving average of $4.67. Over the past year, the stock has seen a low of $2.60 and a high of $7.14.

Insider Transactions

In related news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that took place on Wednesday, September 11th. The shares were sold at an average price of $3.20, resulting in a total transaction value of $9,600,000.00. This transaction was disclosed in a filing with the Securities and Exchange Commission. Meanwhile, Director Thomas E. Davin sold 10,884 shares on Monday, September 9th, at an average price of $3.81, totaling $41,468.04. Following this sale, Davin continues to hold 15,851 shares of the company, valued at $60,392.31, marking a slight decrease in ownership. Overall, insiders have sold 4,010,884 shares worth $12,811,468 over the last 90 days. Corporate insiders now own 73.80% of the company's stock.

Analysts Adjust Price Targets

Several analysts have shared their views on BRC stock following the earnings announcement. The Telsey Advisory Group has reiterated an "outperform" rating with a target price of $6.00. Additionally, DA Davidson has maintained a "buy" rating with a price target of $5.50. In contrast, Roth Capital downgraded the stock from a "strong-buy" to a "hold" rating, while Roth Mkm reduced their target from $8.00 to $4.00. Currently, three analysts have rated the stock as a hold, while another three consider it a buy. According to MarketBeat.com, BRC stock holds a "Moderate Buy" consensus rating, with a target price averaging $6.63.

About BRC

BRC Inc, through its subsidiaries, is involved in purchasing, roasting, and selling coffee, coffee-related accessories, and branded apparel in the United States. The company also produces media content, sells coffee brewing equipment, and offers outdoor lifestyle gear, supporting active military personnel, veterans, and first responders.

Investing Considerations

Before making investment decisions regarding BRC, potential investors are encouraged to do thorough research. Despite the company currently being rated as a "Moderate Buy" among analysts, there may be other stocks with better potential returns that should be explored.

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