Boston Beer (NYSE:SAM) Issues Quarterly Earnings Results

Boston Beer (NYSE:SAM) released its quarterly earnings results on Thursday. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60), Briefing.com reports. The firm had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.60% and a net margin of 4.39%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $4.72 EPS. Boston Beer updated its FY24 guidance to $7.00-11.00 EPS and its FY 2024 guidance to 7.000-11.000 EPS.

Boston Beer Stock Performance

SAM opened at $290.91 on Friday. The business’s fifty day moving average is $286.72 and its two-hundred day moving average is $305.50. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 1.11 and a beta of 1.03. Boston Beer has a one year low of $254.40 and a one year high of $395.52.

Analysts Set New Price Targets

Several research analysts have commented on the company. Roth Mkm cut their price target on Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group raised Boston Beer from a “hold” rating to a “buy” rating and boosted their target price for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. Piper Sandler dropped their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup dropped their target price on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, Evercore ISI boosted their target price on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of “Hold” and an average target price of $330.21.

About Boston Beer

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.