Boston Beer (NYSE:SAM) Releases FY24 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.00-11.00 for the period, compared to the consensus estimate of $9.89. Boston Beer also updated its FY 2024 guidance to 7.000-11.000 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SAM. Morgan Stanley lowered their price objective on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada restated a sector perform rating and set a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th. Evercore ISI boosted their target price on shares of Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a research report on Friday. Piper Sandler began coverage on shares of Boston Beer in a research report on Friday, March 22nd. They set an overweight rating and a $350.00 target price for the company. Finally, The Goldman Sachs Group decreased their target price on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $335.21.

Boston Beer Stock Performance

Shares of SAM stock traded down $4.07 on Friday, reaching $283.20. 403,746 shares of the company were exchanged, compared to its average volume of 130,997. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 1.16 and a beta of 1.02. The business has a 50-day moving average price of $303.71 and a 200 day moving average price of $333.44. Boston Beer has a 1 year low of $274.78 and a 1 year high of $395.52.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The business had revenue of $426.05 million during the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. As a group, equities analysts anticipate that Boston Beer will post 9.91 earnings per share for the current year.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated 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 owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

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.