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

Boston Beer (NYSE:SAM) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 8.000-10.000 for the period, compared to the consensus earnings per share estimate of 9.100. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $8.00-$10.00 EPS.

Wall Street Analysts Forecast Growth

SAM has been the topic of a number of recent research reports. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. Piper Sandler increased their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Price Performance

SAM stock opened at $302.77 on Friday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 44.53, a P/E/G ratio of 1.21 and a beta of 1.07. The business has a fifty day moving average price of $306.09 and a 200 day moving average price of $290.68. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

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.