Boston Beer (NYSE:SAM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 8.000-10.000 for the period, compared to the consensus EPS estimate of 9.600. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $8.00-$10.00 EPS.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Piper Sandler cut their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada dropped their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $322.58.
Check Out Our Latest Stock Analysis on Boston Beer
Boston Beer Stock Up 0.1 %
Boston Beer (NYSE:SAM – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the prior year, the company earned $4.72 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that Boston Beer will post 9.63 earnings per share for the current 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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