BellRing Brands (NYSE:BRBR) Announces Quarterly Earnings Results

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

BellRing Brands Price Performance

BRBR opened at $58.44 on Wednesday. The firm has a market cap of $7.65 billion, a P/E ratio of 47.13, a PEG ratio of 2.18 and a beta of 0.85. BellRing Brands has a 1-year low of $34.58 and a 1-year high of $62.76. The company has a 50 day simple moving average of $57.88 and a two-hundred day simple moving average of $54.40.

Analyst Ratings Changes

BRBR has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of BellRing Brands in a research note on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target for the company. Morgan Stanley lifted their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. TD Cowen initiated coverage on shares of BellRing Brands in a research note on Monday, April 22nd. They issued a “buy” rating and a $64.00 price target for the company. Stephens reiterated an “equal weight” rating and issued a $53.00 price target on shares of BellRing Brands in a research note on Tuesday. Finally, Stifel Nicolaus boosted their target price 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $59.08.

BellRing Brands Company Profile

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.