Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of research firms have recently commented on SAM. UBS Group cut their target price on Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Evercore ISI increased their target price on Boston Beer from $310.00 to $325.00 and gave the stock an in-line rating in a research note on Friday. Citigroup cut their target price on Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. Sanford C. Bernstein raised Boston Beer from an underperform rating to a market perform rating and increased their target price for the stock from $280.00 to $335.00 in a research note on Tuesday, January 16th. Finally, Morgan Stanley cut their target price on Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $335.21.

Boston Beer Trading Down 1.4 %

SAM stock traded down $4.07 during trading on Friday, reaching $283.20. The stock had a trading volume of 403,746 shares, compared to its average volume of 130,997. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52. The stock’s 50 day moving average is $303.71 and its two-hundred day moving average is $333.63. The firm has a market cap of $3.41 billion, a PE ratio of 35.53, a PEG ratio of 1.18 and a beta of 1.02.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a return on equity of 10.00% and a net margin of 4.60%. The company had revenue of $426.05 million for the quarter, compared to the consensus estimate of $414.18 million. On average, research analysts anticipate that Boston Beer will post 9.9 EPS for the current year.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now owns 2,630 shares of the company’s stock, valued at $922,393.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. 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.