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

Boston Beer (NYSE:SAM) 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.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One research 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. According to MarketBeat, Boston Beer presently has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Performance

Boston Beer stock traded down $5.82 during midday trading on Friday, hitting $302.77. 282,000 shares of the company’s stock were exchanged, compared to its average volume of 151,822. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65. The company has a market cap of $3.48 billion, a P/E ratio of 44.53, a PEG ratio of 1.21 and a beta of 1.07. The stock has a 50-day moving average price of $306.09 and a two-hundred day moving average price of $290.68.

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.