The Boston Beer Company, Inc. to Post Q2 2024 Earnings of $4.77 Per Share, Wedbush Forecasts (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM) – Analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for shares of Boston Beer in a note issued to investors on Friday, April 26th. Wedbush analyst G. Pascarelli now anticipates that the company will earn $4.77 per share for the quarter, down from their previous estimate of $4.96. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share. Wedbush also issued estimates for Boston Beer’s Q2 2025 earnings at $5.75 EPS, Q3 2025 earnings at $5.58 EPS and FY2025 earnings at $12.61 EPS.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million.

A number of other equities research analysts also recently commented on the stock. Citigroup dropped their price objective on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Roth Mkm raised their price objective on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price objective on shares of Boston Beer in a research note on Wednesday, February 28th. Piper Sandler assumed coverage on shares of Boston Beer in a research note on Friday, March 22nd. They issued an “overweight” rating and a $350.00 price objective on the stock. Finally, Evercore ISI upped their price target on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $335.21.

Boston Beer Stock Performance

NYSE SAM opened at $278.41 on Monday. The firm has a 50 day simple moving average of $302.38 and a 200-day simple moving average of $332.89. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 1.16 and a beta of 1.02. Boston Beer has a one year low of $274.78 and a one year high of $395.52.

Insiders Place Their Bets

In related news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. Company insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after buying an additional 21,060 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Boston Beer by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock worth $49,080,000 after buying an additional 7,615 shares during the period. AQR Capital Management LLC raised its stake in shares of Boston Beer by 65.9% during the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after buying an additional 45,864 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boston Beer by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 107,312 shares of the company’s stock valued at $37,086,000 after buying an additional 3,382 shares during the period. Finally, Northern Trust Corp boosted its stake in Boston Beer by 1.9% in the third quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after acquiring an additional 1,315 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors.

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.