Research Analysts Issue Forecasts for BRC Inc.’s Q1 2024 Earnings (NYSE:BRCC)

BRC Inc. (NYSE:BRCC) – Stock analysts at Roth Capital lowered their Q1 2024 earnings estimates for shares of BRC in a report issued on Thursday, April 25th. Roth Capital analyst G. Kelly now anticipates that the company will post earnings per share of ($0.02) for the quarter, down from their prior forecast of ($0.01). The consensus estimate for BRC’s current full-year earnings is ($0.01) per share.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, March 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.20. The firm had revenue of $119.65 million during the quarter, compared to analysts’ expectations of $124.38 million. BRC had a negative net margin of 4.23% and a positive return on equity of 4.11%.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price objective on shares of BRC in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.92.

BRC Stock Down 3.7 %

Shares of NYSE BRCC opened at $3.89 on Monday. The firm has a market capitalization of $825.26 million, a PE ratio of -14.41 and a beta of 0.99. The company has a current ratio of 1.28, a quick ratio of 0.61 and a debt-to-equity ratio of 1.48. BRC has a 1 year low of $2.51 and a 1 year high of $5.85. The firm’s 50-day moving average is $4.33 and its 200-day moving average is $3.94.

Institutional Trading of BRC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alhambra Investment Management LLC raised its holdings in shares of BRC by 21.8% in the fourth quarter. Alhambra Investment Management LLC now owns 16,750 shares of the company’s stock valued at $61,000 after purchasing an additional 3,000 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of BRC by 106.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock valued at $27,000 after purchasing an additional 3,831 shares during the last quarter. Allworth Financial LP raised its holdings in shares of BRC by 83.6% in the fourth quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock valued at $35,000 after purchasing an additional 4,450 shares during the last quarter. Raymond James & Associates raised its holdings in shares of BRC by 27.3% in the third quarter. Raymond James & Associates now owns 21,921 shares of the company’s stock valued at $79,000 after purchasing an additional 4,697 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of BRC by 23.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,000 shares of the company’s stock valued at $109,000 after purchasing an additional 5,700 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.