$661.12 Million in Sales Expected for The Boston Beer Company, Inc. (NYSE:SAM) This Quarter

Posted by on May 23rd, 2022

Wall Street analysts expect The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) to report $661.12 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Boston Beer’s earnings, with the lowest sales estimate coming in at $647.10 million and the highest estimate coming in at $675.14 million. Boston Beer posted sales of $602.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Boston Beer will report full-year sales of $2.25 billion for the current year, with estimates ranging from $2.24 billion to $2.25 billion. For the next financial year, analysts anticipate that the company will post sales of $2.38 billion, with estimates ranging from $2.36 billion to $2.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Boston Beer.

Boston Beer (NYSE:SAM – Get Rating) last posted its earnings results on Thursday, April 21st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $2.05 by ($2.21). The company had revenue of $430.11 million for the quarter, compared to the consensus estimate of $444.80 million. Boston Beer had a positive return on equity of 9.05% and a negative net margin of 2.64%. Boston Beer’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.58 EPS.

Several analysts have issued reports on SAM shares. StockNews.com initiated coverage on Boston Beer in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research lowered Boston Beer from a “hold” rating to a “strong sell” rating and set a $322.00 target price for the company. in a research report on Monday, February 21st. Credit Suisse Group lowered their price objective on Boston Beer from $670.00 to $620.00 and set an “outperform” rating for the company in a research report on Friday, April 22nd. Cowen cut their price target on Boston Beer from $500.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boston Beer from $420.00 to $337.00 and set a “hold” rating on the stock in a research report on Friday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $603.69.

NYSE:SAM opened at $329.21 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.79 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of -74.99 and a beta of 0.80. The stock has a 50-day moving average price of $372.47 and a two-hundred day moving average price of $425.87. Boston Beer has a 1 year low of $322.22 and a 1 year high of $1,133.80.

In related news, insider John C. Geist sold 1,008 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $387.98, for a total transaction of $391,083.84. Following the sale, the insider now directly owns 4,752 shares of the company’s stock, valued at $1,843,680.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 23.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SAM. Marshall Wace North America L.P. purchased a new stake in shares of Boston Beer in the first quarter valued at about $59,000. FMR LLC raised its holdings in Boston Beer by 29.0% during the first quarter. FMR LLC now owns 90,102 shares of the company’s stock worth $26,555,000 after purchasing an additional 20,259 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Boston Beer by 3.5% in the 1st quarter. First Trust Advisors LP now owns 10,480 shares of the company’s stock valued at $3,089,000 after acquiring an additional 356 shares during the period. Morgan Stanley grew its position in Boston Beer by 115.5% in the 2nd quarter. Morgan Stanley now owns 87,538 shares of the company’s stock valued at $89,359,000 after buying an additional 46,921 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Boston Beer by 9.7% during the 3rd quarter. CIBC Asset Management Inc now owns 496 shares of the company’s stock worth $253,000 after purchasing an additional 44 shares in the last quarter. 62.12% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Company Profile (Get Rating)

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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.

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Earnings History and Estimates for Boston Beer (NYSE:SAM)

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