Boston Beer (NYSE:SAM) posted its quarterly earnings data on Wednesday. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03, Briefing.com reports. Boston Beer had a return on equity of 21.11% and a net margin of 9.97%. The firm had revenue of $206.32 million for the quarter, compared to analysts’ expectations of $206.46 million. During the same period in the previous year, the firm earned $1.75 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Boston Beer updated its FY18 guidance to $6.30-7.30 EPS.
Boston Beer (SAM) traded down $21.81 during midday trading on Thursday, reaching $171.44. The company had a trading volume of 509,763 shares, compared to its average volume of 133,362. Boston Beer has a one year low of $128.70 and a one year high of $202.35. The stock has a market cap of $2,272.62, a PE ratio of 26.36, a PEG ratio of 5.52 and a beta of 0.53.
In related news, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $195.00, for a total value of $195,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Martin F. Roper sold 773 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $190.62, for a total value of $147,349.26. Following the completion of the transaction, the insider now directly owns 33,046 shares in the company, valued at $6,299,228.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,983 shares of company stock worth $20,072,674. 31.30% of the stock is owned by insiders.
A number of research firms have recently weighed in on SAM. Credit Suisse Group reaffirmed a “neutral” rating and set a $172.00 price objective (up from $160.00) on shares of Boston Beer in a research report on Thursday. BMO Capital Markets began coverage on Boston Beer in a research report on Monday, February 5th. They set a “market perform” rating and a $180.00 price objective on the stock. TheStreet raised Boston Beer from a “c+” rating to a “b-” rating in a research report on Thursday, November 2nd. Macquarie raised Boston Beer from an “underperform” rating to a “neutral” rating and set a $140.00 price objective on the stock in a research report on Thursday, February 8th. Finally, Zacks Investment Research cut Boston Beer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $161.33.
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Boston Beer Company Profile
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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