BellRing Brands (NYSE:BRBR) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

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

BellRing Brands Stock Down 0.4 %

Shares of BellRing Brands stock opened at $57.18 on Tuesday. BellRing Brands has a 52-week low of $34.58 and a 52-week high of $62.76. The company’s 50-day simple moving average is $57.83 and its 200-day simple moving average is $54.29. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 price objective for the company. TD Cowen started coverage on shares of BellRing Brands in a research report on Monday, April 22nd. They issued a “buy” rating and a $64.00 price target for the company. Stifel Nicolaus boosted their price target on shares of BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Barclays boosted their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Stephens reissued an “equal weight” rating and issued a $51.00 price target on shares of BellRing Brands in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $58.92.

Insider Transactions at BellRing Brands

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

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.