Roth Capital Has Negative Outlook of Boston Beer Q3 Earnings

The Boston Beer Company, Inc. (NYSE:SAM) – Equities researchers at Roth Capital decreased their Q3 2024 earnings estimates for shares of Boston Beer in a research report issued to clients and investors on Tuesday, October 22nd. Roth Capital analyst W. Kirk now anticipates that the company will earn $5.18 per share for the quarter, down from their previous forecast of $5.35. The consensus estimate for Boston Beer’s current full-year earnings is $9.63 per share.

Boston Beer (NYSE:SAM) last posted 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 return on equity of 9.69% and a net margin of 4.39%. The company had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the previous year, the firm posted $4.72 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.

A number of other brokerages have also commented on SAM. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the company from $355.00 to $325.00 in a research note on Friday. Piper Sandler increased their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 2.0 %

SAM stock opened at $295.96 on Friday. The business’s 50-day simple moving average is $279.71 and its 200 day simple moving average is $282.24. Boston Beer has a twelve month low of $254.40 and a twelve month high of $372.61. The company has a market cap of $3.47 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new position in Boston Beer during the 1st quarter worth $28,000. ORG Partners LLC bought a new position in Boston Beer during the second quarter worth about $48,000. Sachetta LLC grew its holdings in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the period. Finally, Quarry LP grew its stake in Boston Beer by 984.0% in the second quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after acquiring an additional 246 shares during the period. 81.13% of the stock is 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.