Boston Beer (NYSE:SAM) Issues FY 2024 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 8.000-10.000 for the period, compared to the consensus EPS estimate of 9.100. The company issued revenue guidance of -. Boston Beer also updated its FY24 guidance to $8.00-$10.00 EPS.

Boston Beer Stock Down 1.9 %

Shares of NYSE SAM traded down $5.82 during midday trading on Friday, hitting $302.77. 302,085 shares of the company’s stock were exchanged, compared to its average volume of 151,822. Boston Beer has a 12 month low of $254.40 and a 12 month high of $371.65. The company’s 50 day moving average price is $306.09 and its 200 day moving average price is $290.68. The firm has a market capitalization of $3.48 billion, a PE ratio of 44.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SAM shares. Needham & Company LLC initiated coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus price target of $314.82.

About Boston Beer

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.