Boston Beer (NYSE:SAM) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Boston Beer (NYSE:SAM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 8.000-10.000 for the period, compared to the consensus EPS estimate of 9.600. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $8.00-$10.00 EPS.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on SAM

Boston Beer Trading Up 0.1 %

Shares of Boston Beer stock traded up $0.24 during trading hours on Thursday, hitting $301.75. 160,652 shares of the company were exchanged, compared to its average volume of 158,976. Boston Beer has a 1 year low of $254.40 and a 1 year high of $378.08. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 1.23 and a beta of 1.06. The business has a 50-day moving average of $279.44 and a 200-day moving average of $282.31.

Boston Beer (NYSE:SAM – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same period last year, the company posted $4.72 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Boston Beer will post 9.63 earnings per share for the current fiscal year.

About Boston Beer

(Get Free Report)

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.

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