Boston Beer (NYSE:SAM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 7.000-11.000 for the period, compared to the consensus earnings per share estimate of 10.270. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $7.00-11.00 EPS.
Analyst Ratings Changes
Several brokerages recently commented on SAM. Citigroup cut their price target on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Beer from $273.00 to $283.00 and gave the company a hold rating in a report on Wednesday, July 17th. Morgan Stanley upgraded shares of Boston Beer from an underweight rating to an equal weight rating and set a $290.00 price target on the stock in a report on Wednesday, June 5th. Jefferies Financial Group upgraded shares of Boston Beer from a hold rating to a buy rating and upped their target price for the stock from $335.00 to $360.00 in a research note on Tuesday, May 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of Hold and a consensus target price of $330.21.
View Our Latest Stock Analysis on SAM
Boston Beer Trading Up 7.5 %
Boston Beer (NYSE:SAM – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. The firm had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the previous year, the company earned $4.72 EPS. The company’s revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Boston Beer will post 10.26 earnings per share for the current fiscal 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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