Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $7.00-11.00 for the period, compared to the consensus EPS estimate of $10.22.

Boston Beer Price Performance

NYSE SAM traded down $1.33 on Thursday, reaching $270.52. The company had a trading volume of 293,322 shares, compared to its average volume of 173,822. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 1.05 and a beta of 1.03. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $395.52. The business has a 50 day moving average of $286.75 and a two-hundred day moving average of $306.30.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. As a group, research analysts predict that Boston Beer will post 10.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a research note on Friday, April 26th. StockNews.com downgraded shares of Boston Beer from a buy rating to a hold rating in a research report on Wednesday, June 12th. The Goldman Sachs Group dropped their target price on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research report on Tuesday, April 9th. Citigroup reduced their price target on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised shares of Boston Beer from a hold rating to a buy rating and lifted their price target for the company from $335.00 to $360.00 in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $335.29.

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.