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

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

Analysts Set New Price Targets

SAM has been the subject of several research reports. Jefferies Financial Group lowered 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 report on Friday, October 25th. Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. 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, October 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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 target price on shares of 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 given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Performance

NYSE SAM opened at $302.77 on Friday. The stock has a 50-day simple moving average of $306.09 and a 200 day simple moving average of $290.68. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65. The stock has a market capitalization 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.