Boston Beer (NYSE:SAM) Issues FY24 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $8.00-$10.00 for the period, compared to the consensus EPS estimate of $9.73.

Boston Beer Price Performance

Shares of SAM stock opened at $301.11 on Friday. The company’s fifty day moving average price is $308.01 and its two-hundred day moving average price is $290.82. The firm has a market capitalization of $3.46 billion, a P/E ratio of 44.28, a P/E/G ratio of 1.21 and a beta of 1.07. Boston Beer has a 12 month low of $254.40 and a 12 month high of $371.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SAM shares. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Needham & Company LLC began coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Finally, UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average target price of $314.82.

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.