Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Boston Beer Trading Down 1.4 %

Shares of SAM traded down $4.07 during mid-day trading on Friday, reaching $283.20. The company’s stock had a trading volume of 403,746 shares, compared to its average volume of 130,997. The stock has a market cap of $3.41 billion, a PE ratio of 35.53, a P/E/G ratio of 1.18 and a beta of 1.02. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52. The company’s fifty day moving average price is $303.71 and its two-hundred day moving average price is $333.63.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The firm had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. Research analysts anticipate that Boston Beer will post 9.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SAM shares. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a report on Tuesday, April 9th. Roth Mkm upped their price target on shares of Boston Beer from $406.00 to $422.00 and gave the company a buy rating in a report on Tuesday, January 23rd. Piper Sandler started coverage on shares of Boston Beer in a report on Friday, March 22nd. They set an overweight rating and a $350.00 price target for the company. Morgan Stanley lowered their price target on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a report on Wednesday, February 28th. Finally, Sanford C. Bernstein upgraded shares of Boston Beer from an underperform rating to a market perform rating and upped their price target for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Two research 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 MarketBeat, the company has an average rating of Hold and a consensus target price of $335.21.

Insider Transactions at Boston Beer

In other 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 value of $30,652.49. Following 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 can be accessed through this link. In other 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 value of $35,773.44. Following the sale, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn L. O’boyle sold 101 shares of the 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 sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

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.