Boston Beer (NYSE:SAM) Issues 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 Upgrades and Downgrades

Several equities analysts have commented on SAM shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday. UBS Group lifted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $355.00 to $325.00 in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday. Finally, Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday. One equities 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 stock. According to MarketBeat, Boston Beer currently has a consensus rating of “Hold” and an average price target of $320.08.

Boston Beer Stock Performance

Shares of SAM stock traded down $5.92 on Friday, hitting $295.96. The company had a trading volume of 340,978 shares, compared to its average volume of 159,857. The stock’s 50-day moving average is $279.44 and its two-hundred day moving average is $282.31. The firm has a market cap of $3.47 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a twelve month low of $254.40 and a twelve month high of $372.61.

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