Boston Beer (NYSE:SAM) Issues Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Boston Beer (NYSE:SAM) issued its quarterly earnings data on Thursday. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60), Briefing.com reports. The business had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.60% and a net margin of 4.39%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.72 EPS. Boston Beer updated its FY24 guidance to $7.00-11.00 EPS and its FY 2024 guidance to 7.000-11.000 EPS.

Boston Beer Stock Up 7.5 %

Shares of SAM stock opened at $290.91 on Friday. The firm has a 50 day moving average price of $286.72 and a two-hundred day moving average price of $305.50. The company has a market capitalization of $3.48 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.03. Boston Beer has a 12-month low of $254.40 and a 12-month high of $395.52.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. The Goldman Sachs Group lowered their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a report on Tuesday, April 9th. Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and increased their target price for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. Roth Mkm lowered their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank of Canada lowered their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $330.21.

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.