Boston Beer (NYSE:SAM) Updates FY24 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.00-$10.00 for the period, compared to the consensus estimate of $9.73.

Analyst Upgrades and Downgrades

Several research firms recently commented on SAM. Roth Mkm reiterated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Needham & Company LLC assumed coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. UBS Group upped their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Finally, Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and cut their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Up 0.6 %

SAM opened at $302.22 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of 44.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The firm’s 50-day moving average price is $307.96 and its 200-day moving average price is $290.76. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65.

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.