Boston Beer (NYSE:SAM - Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $8.00-$10.00 for the period, compared to the consensus earnings per share estimate of $9.73.
Boston Beer Trading Down 0.4 %
SAM stock traded down $1.11 during midday trading on Friday, hitting $301.11. 63,888 shares of the company's stock were exchanged, compared to its average volume of 150,836. The business has a 50-day simple moving average of $308.01 and a two-hundred day simple moving average of $290.82. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The stock has a market capitalization of $3.46 billion, a PE ratio of 44.28, a P/E/G ratio of 1.21 and a beta of 1.07.
Analysts Set New Price Targets
Several research firms recently weighed in on SAM. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Jefferies Financial Group downgraded Boston Beer from a "buy" rating to a "hold" rating and dropped their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Piper Sandler raised 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, October 25th. Finally, Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They set a "hold" rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $314.82.
View Our Latest Stock Analysis on SAM
Boston Beer Company Profile
(
Get Free Report)
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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