Boston Beer (NYSE:SAM) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Boston Beer (NYSE:SAM) posted its quarterly earnings results on Thursday. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.21 by $0.16, FiscalAI reports. Boston Beer had a positive return on equity of 9.99% and a negative net margin of 3.42%. The business had revenue of $520.10 million during the quarter, compared to analysts’ expectations of $522.95 million.

Boston Beer Stock Performance

NYSE SAM traded up $15.13 during trading hours on Thursday, hitting $196.94. 380,207 shares of the company’s stock were exchanged, compared to its average volume of 237,097. The business’s 50 day moving average is $174.67 and its 200-day moving average is $187.34. Boston Beer has a 12-month low of $158.68 and a 12-month high of $264.46. The firm has a market capitalization of $2.05 billion, a P/E ratio of -29.01 and a beta of 0.82.

Analyst Upgrades and Downgrades

A number of research firms have commented on SAM. Roth Capital reissued a “buy” rating and issued a $295.00 target price (down from $315.00) on shares of Boston Beer in a report on Friday, July 24th. UBS Group reiterated a “neutral” rating on shares of Boston Beer in a report on Friday, October 16th. The Goldman Sachs Group decreased their price objective on shares of Boston Beer from $192.00 to $169.00 and set a “sell” rating on the stock in a report on Wednesday, July 8th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 target price on shares of Boston Beer in a report on Monday, July 27th. Finally, Royal Bank Of Canada reduced their price target on shares of Boston Beer from $210.00 to $190.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $205.09.

About Boston Beer

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.