Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

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

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $302.77 on Friday. Boston Beer has a 52 week low of $254.40 and a 52 week high of $371.65. The stock has a 50 day moving average price of $306.67 and a two-hundred day moving average price of $290.68. The stock has a market capitalization of $3.48 billion, a PE ratio of 44.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SAM shares. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Roth Mkm reissued a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $314.82.

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.