Boston Beer (NYSE:SAM) Updates FY24 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.00-$10.00 for the period, compared to the consensus estimate of $9.73. Boston Beer also updated its FY 2024 guidance to 8.000-10.000 EPS.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm reiterated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the company from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Piper Sandler upped their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Down 1.9 %

Shares of NYSE SAM opened at $302.77 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 44.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Boston Beer has a 12-month low of $254.40 and a 12-month high of $371.65. The firm’s 50-day simple moving average is $306.09 and its 200 day simple moving average is $290.68.

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.