Boston Beer (NYSE:SAM) Updates FY 2024 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 8.000-10.000 for the period, compared to the consensus EPS estimate of 9.600. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $8.00-$10.00 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group raised their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday. Finally, Piper Sandler lifted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Performance

NYSE SAM traded down $5.92 on Friday, hitting $295.96. 341,052 shares of the stock were exchanged, compared to its average volume of 159,857. Boston Beer has a 52-week low of $254.40 and a 52-week high of $372.61. The firm has a market capitalization of $3.47 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06. The stock has a fifty day moving average price of $279.71 and a two-hundred day moving average price of $282.30.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results 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 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the previous year, the company posted $4.72 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts expect that Boston Beer will post 9.63 earnings per share for the current fiscal year.

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.