Q3 2024 EPS Estimates for BRC Inc. (NYSE:BRCC) Lowered by Roth Capital

BRC Inc. (NYSE:BRCC) – Roth Capital reduced their Q3 2024 earnings per share (EPS) estimates for BRC in a research note issued on Tuesday, September 10th. Roth Capital analyst G. Kelly now expects that the company will earn ($0.02) per share for the quarter, down from their previous estimate 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.

A number of other equities analysts have also issued reports on the company. Telsey Advisory Group decreased their price target on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of BRC in a report on Thursday, May 16th. Roth Mkm downgraded shares of BRC from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $4.00 in a report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and issued a $5.50 price objective on shares of BRC in a research note on Friday, September 6th. Finally, Tigress Financial reissued a “buy” rating and set a $11.00 target price on shares of BRC in a research note on Wednesday, May 22nd. 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.com, BRC presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

BRC Price Performance

NYSE BRCC opened at $3.25 on Thursday. BRC has a 12 month low of $2.51 and a 12 month high of $7.14. The firm has a market capitalization of $690.69 million, a PE ratio of -18.11 and a beta of 1.18. The company’s 50 day simple moving average is $4.82 and its 200 day simple moving average is $4.95. 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 (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The firm had revenue of $89.02 million for the quarter, compared to analysts’ expectations of $101.54 million. During the same quarter last year, the company earned ($0.03) EPS.

Insider Buying and Selling at BRC

In other news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BRC news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $60,392.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of BRC 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 disclosure for this sale can be found here. Insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank increased its position in BRC by 316.4% in the 1st 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 last quarter. nVerses Capital LLC acquired a new position in BRC in the second quarter worth approximately $28,000. The Manufacturers Life Insurance Company raised its position in BRC by 32.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock valued at $125,000 after acquiring an additional 5,064 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in BRC in the first quarter valued at approximately $45,000. Finally, Fortis Group Advisors LLC lifted its stake in BRC by 25.0% in the second quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock valued at $349,000 after acquiring an additional 11,388 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

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.