Boston Beer (SAM) Set to Announce Earnings on Thursday

Boston Beer (NYSE:SAM) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Boston Beer to post earnings of $0.09 per share for the quarter. Boston Beer has set its FY24 guidance at $7.00 to $11.00 EPS and its FY 2024 guidance at 7.000-11.000 EPS.

Boston Beer (NYSE:SAM) last issued its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The firm had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.93) earnings per share. On average, analysts expect Boston Beer to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Boston Beer Price Performance

NYSE SAM traded up $2.11 during trading on Friday, reaching $286.98. 136,310 shares of the company’s stock were exchanged, compared to its average volume of 126,886. Boston Beer has a fifty-two week low of $274.78 and a fifty-two week high of $395.52. The business has a 50 day moving average price of $310.43 and a 200-day moving average price of $336.40. The stock has a market capitalization of $3.45 billion, a P/E ratio of 46.29, a PEG ratio of 1.16 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler assumed coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Morgan Stanley cut their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Roth Mkm raised their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Citigroup dropped their target price on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Boston Beer has an average rating of “Hold” and a consensus target price of $334.86.

Insiders Place Their Bets

In other news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares in the company, valued at $922,393.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. Corporate insiders own 23.30% of the company’s stock.

Institutional Trading of Boston Beer

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,497 shares of the company’s stock valued at $317,423,000 after acquiring an additional 21,055 shares during the last quarter. State Street Corp boosted its stake in shares of Boston Beer by 0.6% during the second quarter. State Street Corp now owns 261,664 shares of the company’s stock valued at $80,708,000 after purchasing an additional 1,612 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Boston Beer by 2.0% in the fourth quarter. Baird Financial Group Inc. now owns 169,185 shares of the company’s stock worth $58,469,000 after purchasing an additional 3,320 shares during the last quarter. Geode Capital Management LLC raised its holdings in Boston Beer by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 137,739 shares of the company’s stock valued at $42,484,000 after buying an additional 6,897 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Boston Beer by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 117,955 shares of the company’s stock valued at $38,771,000 after buying an additional 7,878 shares during the period. 81.13% of the stock is owned by institutional investors.

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.