Boston Beer (NYSE:SAM) Releases FY24 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.00-11.00 for the period, compared to the consensus EPS estimate of $9.89.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler assumed coverage on Boston Beer in a report on Friday, March 22nd. They set an overweight rating and a $350.00 target price on the stock. Sanford C. Bernstein raised Boston Beer from an underperform rating to a market perform rating and increased their target price for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. UBS Group reduced their target price on Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a report on Wednesday, February 28th. Citigroup reduced their target price on Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Boston Beer presently has an average rating of Hold and a consensus target price of $334.86.

Boston Beer Trading Down 2.1 %

Shares of NYSE SAM traded down $6.03 during mid-day trading on Thursday, reaching $287.27. The company had a trading volume of 206,558 shares, compared to its average volume of 141,049. Boston Beer has a 1-year low of $274.78 and a 1-year high of $395.52. The stock has a market cap of $3.45 billion, a PE ratio of 47.39, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a 50-day moving average price of $307.69 and a two-hundred day moving average price of $334.76.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The business had revenue of $393.72 million for the quarter, compared to analysts’ expectations of $413.57 million. During the same quarter in the prior year, the firm posted ($0.93) EPS. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, research analysts expect that Boston Beer will post 9.98 EPS for the current year.

Insider Activity at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

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.