Boston Beer (NYSE:SAM) Updates FY24 Earnings Guidance

by · The Markets Daily

Boston Beer (NYSE:SAM – Get Free Report) 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.

Boston Beer Stock Down 1.9 %

Shares of SAM stock traded down $5.82 on Friday, reaching $302.77. 302,085 shares of the stock were exchanged, compared to its average volume of 151,752. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The stock has a market cap of $3.48 billion, a P/E ratio of 44.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The firm has a 50 day moving average of $306.09 and a two-hundred day moving average of $290.68.

Analyst Ratings Changes

Several research firms recently commented on SAM. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, UBS Group raised their target price on 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 given a buy rating to the company. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $314.82.

Read Our Latest Stock Analysis on SAM

About Boston Beer

(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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