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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the stock from $355.00 to $325.00 in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday. Finally, UBS Group raised their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer presently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer Trading Down 2.0 %

SAM stock traded down $5.92 on Friday, hitting $295.96. The company had a trading volume of 341,052 shares, compared to its average volume of 159,857. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06. The stock’s 50-day simple moving average is $279.71 and its 200 day simple moving average is $282.30. Boston Beer has a 12-month low of $254.40 and a 12-month high of $372.61.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The firm had revenue of $579.10 million for 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 firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.72 EPS. Research analysts forecast that Boston Beer will post 9.63 earnings per share for the current year.

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.