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

Boston Beer (NYSE:SAM - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. 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.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SAM shares. Needham & Company LLC initiated coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a "hold" rating on the stock. Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and reduced their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Roth Mkm reissued a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lifted their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Piper Sandler increased their target price 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $314.82.

Boston Beer Stock Down 1.9 %

Shares of NYSE SAM traded down $5.82 during trading on Friday, reaching $302.77. The company had a trading volume of 302,860 shares, compared to its average volume of 151,906. Boston Beer has a 12-month low of $254.40 and a 12-month high of $371.65. The business's 50-day moving average is $306.09 and its 200 day moving average is $290.68. The stock has a market cap of $3.48 billion, a PE ratio of 44.53, a P/E/G ratio of 1.21 and a beta of 1.07.

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.