BellRing Brands (NYSE:BRBR) Announces Quarterly Earnings Results

BellRing Brands (NYSE:BRBR) announced its earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11, Briefing.com reports. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same period in the prior year, the company posted $0.24 EPS. BellRing Brands’s quarterly revenue was up 28.3% on a year-over-year basis. BellRing Brands updated its FY 2024 guidance to EPS.

BellRing Brands Trading Up 7.9 %

BRBR opened at $61.70 on Tuesday. The business’s 50 day moving average is $57.83 and its 200-day moving average is $54.29. The stock has a market cap of $8.08 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. BellRing Brands has a twelve month low of $34.58 and a twelve month high of $62.76.

Insider Buying and Selling

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total transaction of $57,810.00. Following the sale, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

BRBR has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of BellRing Brands in a research note on Thursday, February 1st. They issued a “buy” rating and a $67.00 target price on the stock. Barclays boosted their price target on BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of BellRing Brands in a research note on Tuesday. Mizuho boosted their target price on shares of BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Stifel Nicolaus raised their price target on shares of BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and an average price target of $58.92.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.