Boston Beer (NYSE:SAM) Releases FY24 Earnings Guidance

Boston Beer (NYSE:SAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.00-11.00 for the period, compared to the consensus earnings per share estimate of $9.89. Boston Beer also updated its FY 2024 guidance to 7.000-11.000 EPS.

Boston Beer Price Performance

Shares of SAM stock traded down $4.07 during mid-day trading on Friday, hitting $283.20. 403,746 shares of the stock traded hands, compared to its average volume of 130,997. The stock has a market cap of $3.41 billion, a P/E ratio of 35.53, a P/E/G ratio of 1.18 and a beta of 1.02. The stock’s fifty day moving average is $303.71 and its two-hundred day moving average is $333.63. Boston Beer has a 52-week low of $274.78 and a 52-week high of $395.52.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. The business had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. As a group, equities analysts forecast that Boston Beer will post 9.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on SAM shares. Evercore ISI increased their price target on shares of Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a research report on Friday. Morgan Stanley cut their price objective on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a report on Wednesday, February 28th. The Goldman Sachs Group cut their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a report on Tuesday, April 9th. Piper Sandler started coverage on shares of Boston Beer in a report on Friday, March 22nd. They set an overweight rating and a $350.00 price objective on the stock. Finally, Citigroup cut their price objective 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boston Beer has a consensus rating of Hold and an average target price of $335.21.

Insider Transactions at Boston Beer

In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The disclosure for this sale can be found here. Corporate insiders own 23.30% of the company’s stock.

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.