Boston Beer (NYSE:SAM – Get Free Report) 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.
Read Our Latest Analysis on Boston Beer
Boston Beer Price Performance
Boston Beer (NYSE:SAM – Get Free Report) 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.
Featured Articles
- Five stocks we like better than Boston Beer
- How to Calculate Stock Profit
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- CD Calculator: Certificate of Deposit Calculator
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- Most Volatile Stocks, What Investors Need to Know
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter.