Boston Beer (NYSE:SAM – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.000-11.000 for the period, compared to the consensus EPS estimate of 10.270. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $7.00-11.00 EPS.
Wall Street Analysts Forecast Growth
SAM has been the topic of a number of analyst reports. Evercore ISI raised their price objective on shares of Boston Beer from $310.00 to $325.00 and gave the stock an in-line rating in a research note on Friday, April 26th. Citigroup reduced their price target on Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boston Beer from $273.00 to $283.00 and gave the company a hold rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Boston Beer from a buy rating to a hold rating in a report on Wednesday, June 12th. Finally, Morgan Stanley raised Boston Beer from an underweight rating to an equal weight rating and set a $290.00 target price for the company in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $330.21.
Read Our Latest Stock Analysis on Boston Beer
Boston Beer Stock Up 7.5 %
Boston Beer (NYSE:SAM – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.72 earnings per share. On average, analysts expect that Boston Beer will post 10.26 earnings per share for the current fiscal 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.
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