Boston Beer (NYSE:SAM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 7.000-11.000 for the period, compared to the consensus earnings per share estimate of 10.270. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $7.00-11.00 EPS.
Wall Street Analyst Weigh In
A number of research firms have commented on SAM. Jefferies Financial Group raised Boston Beer from a hold rating to a buy rating and lifted their target price for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. StockNews.com lowered Boston Beer from a buy rating to a hold rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a hold rating in a report on Wednesday, July 17th. Roth Mkm cut their price objective on Boston Beer from $395.00 to $389.00 and set a buy rating for the company in a report on Friday. Finally, The Goldman Sachs Group cut their price objective on Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $330.21.
Check Out Our Latest Analysis on SAM
Boston Beer Stock Performance
Boston Beer (NYSE:SAM – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. The business had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the previous year, the firm earned $4.72 earnings per share. Boston Beer’s revenue was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Boston Beer will post 10.26 earnings per share for the current year.
About Boston Beer
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.
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