Boston Beer (NYSE:SAM) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SAM shares. Deutsche Bank Aktiengesellschaft dropped their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. 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. Finally, UBS Group raised their price target on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. One 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.com, Boston Beer presently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer Trading Up 0.6 %

NYSE:SAM opened at $302.22 on Friday. The company has a 50-day moving average price of $307.96 and a 200-day moving average price of $290.76. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 1.21 and a beta of 1.07. Boston Beer has a 12 month low of $254.40 and a 12 month 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.