Boston Beer (NYSE:SAM – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $8.00-$10.00 for the period, compared to the consensus earnings per share estimate of $9.51. Boston Beer also updated its FY 2024 guidance to 8.000-10.000 EPS.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SAM. Royal Bank of Canada reduced their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. UBS Group lifted their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday. Piper Sandler reduced 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. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer currently has an average rating of “Hold” and an average price target of $322.58.
Get Our Latest Stock Report on Boston Beer
Boston Beer Price Performance
Boston Beer (NYSE:SAM – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same period last year, the company posted $4.72 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts anticipate that Boston Beer will post 9.63 earnings per share for the current year.
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.
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