Boston Beer (NYSE:SAM) Posts Earnings Results, Misses Expectations By $0.60 EPS

Boston Beer (NYSE:SAM) posted its earnings results on Thursday. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60), Briefing.com reports. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same quarter last year, the firm earned $4.72 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Boston Beer updated its FY24 guidance to $7.00-11.00 EPS and its FY 2024 guidance to 7.000-11.000 EPS.

Boston Beer Stock Up 7.5 %

Shares of NYSE SAM traded up $20.31 during trading hours on Friday, hitting $290.83. 358,724 shares of the stock were exchanged, compared to its average volume of 175,199. The company has a market cap of $3.48 billion, a PE ratio of 36.06, a PEG ratio of 1.04 and a beta of 1.03. The firm has a fifty day moving average price of $286.51 and a 200-day moving average price of $306.05. Boston Beer has a 12 month low of $254.40 and a 12 month high of $395.52.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SAM shares. Citigroup reduced their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Piper Sandler lowered their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and boosted their price target for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $330.21.

Boston Beer Company Profile

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.