Brokers Set Expectations for The Boston Beer Company, Inc.’s Q3 2024 Earnings (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM) – Analysts at Roth Capital increased their Q3 2024 EPS estimates for shares of Boston Beer in a report issued on Thursday, July 25th. Roth Capital analyst W. Kirk now anticipates that the company will post earnings of $5.35 per share for the quarter, up from their previous estimate of $5.33. The consensus estimate for Boston Beer’s current full-year earnings is $9.78 per share. Roth Capital also issued estimates for Boston Beer’s Q1 2025 earnings at $1.43 EPS, Q2 2025 earnings at $5.25 EPS and Q3 2025 earnings at $6.17 EPS.

A number of other research analysts have also commented on SAM. The Goldman Sachs Group decreased their price target 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. Citigroup cut their price objective on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Evercore ISI upped their price target on shares of Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $328.69.

Boston Beer Price Performance

Boston Beer stock opened at $279.19 on Monday. The firm has a market capitalization of $3.34 billion, a PE ratio of 35.03, a P/E/G ratio of 1.17 and a beta of 1.03. The company’s 50-day moving average is $287.05 and its 200-day moving average is $304.22. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $395.52.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). 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 9.69% and a net margin of 4.39%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.72 earnings per share.

Institutional Investors Weigh In On Boston Beer

Large investors have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Boston Beer during the first quarter worth $28,000. Seven Eight Capital LP boosted its stake in Boston Beer by 160.0% during the first quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock worth $1,504,000 after acquiring an additional 3,040 shares in the last quarter. Trexquant Investment LP boosted its stake in Boston Beer by 136.3% during the fourth quarter. Trexquant Investment LP now owns 13,171 shares of the company’s stock worth $4,552,000 after acquiring an additional 7,598 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Boston Beer during the fourth quarter worth $1,010,000. Finally, Natixis bought a new position in Boston Beer during the first quarter worth $3,044,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.