Q3 2024 EPS Estimates for BRC Inc. Cut by Analyst (NYSE:BRCC)

BRC Inc. (NYSE:BRCC) – Equities researchers at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for shares of BRC in a research note issued on Thursday, August 8th. William Blair analyst J. Andersen now anticipates that the company will post earnings per share of $0.00 for the quarter, down from their previous forecast of $0.01. The consensus estimate for BRC’s current full-year earnings is $0.02 per share. William Blair also issued estimates for BRC’s Q4 2024 earnings at $0.02 EPS.

BRC (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $89.02 million during the quarter, compared to the consensus estimate of $101.54 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same quarter last year, the company earned ($0.03) earnings per share.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of BRC in a research report on Thursday, May 16th. Roth Capital downgraded BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Tigress Financial reissued a “buy” rating and issued a $11.00 price target on shares of BRC in a report on Wednesday, May 22nd. Telsey Advisory Group decreased their price objective on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.00.

BRC Stock Performance

BRC stock opened at $3.75 on Monday. BRC has a fifty-two week low of $2.51 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The stock’s fifty day moving average is $5.72 and its two-hundred day moving average is $4.95.

Institutional Investors Weigh In On BRC

A number of hedge funds and other institutional investors have recently made changes to their positions in BRCC. Comerica Bank increased its position in BRC by 316.4% during 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in BRC by 106.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock worth $27,000 after acquiring an additional 3,831 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of BRC in the 2nd quarter worth about $28,000. Allworth Financial LP raised its stake in shares of BRC by 83.6% in the 4th 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of BRC in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.