Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $8.00-$10.00 for the period, compared to the consensus EPS estimate of $9.51. Boston Beer also updated its FY 2024 guidance to 8.000-10.000 EPS.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock 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. Piper Sandler lifted their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lifted their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Price Performance

Boston Beer stock traded down $5.92 during midday trading on Friday, hitting $295.96. 341,052 shares of the company were exchanged, compared to its average volume of 159,857. The company’s fifty day moving average price is $279.71 and its 200-day moving average price is $282.30. The company has a market cap of $3.47 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $372.61.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data 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 business had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Boston Beer’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect that Boston Beer will post 9.63 EPS for the current fiscal year.

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.