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

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on SAM shares. Piper Sandler dropped their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. UBS Group boosted their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Boston Beer has an average rating of “Hold” and a consensus price target of $322.58.

Boston Beer Trading Up 0.1 %

NYSE SAM traded up $0.24 on Thursday, reaching $301.75. 160,652 shares of the company were exchanged, compared to its average volume of 158,976. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $378.08. The stock has a market capitalization of $3.54 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The business’s fifty day moving average price is $279.01 and its 200 day moving average price is $282.17.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.72 EPS. Equities research analysts forecast that Boston Beer will post 9.63 earnings per share for the current 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.