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 $8.00-$10.00 for the period, compared to the consensus estimate of $9.51.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SAM. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday. Piper Sandler lowered their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada decreased their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $322.58.

Boston Beer Price Performance

SAM stock traded up $0.37 during trading hours on Thursday, reaching $301.88. The stock had a trading volume of 158,205 shares, compared to its average volume of 158,920. The stock has a market capitalization of $3.54 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The stock has a 50-day simple moving average of $279.01 and a 200 day simple moving average of $282.17. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $378.08.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.72 EPS. On average, sell-side analysts forecast 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.