Wedbush Brokers Lower Earnings Estimates for The Boston Beer Company, Inc. (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM) – Investment analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of Boston Beer in a report issued on Friday, April 26th. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings per share of $4.77 for the quarter, down from their previous estimate of $4.96. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share. Wedbush also issued estimates for Boston Beer’s Q2 2025 earnings at $5.75 EPS, Q3 2025 earnings at $5.58 EPS and FY2025 earnings at $12.61 EPS.

A number of other research firms have also recently weighed in on SAM. Morgan Stanley lowered their price objective on Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Citigroup lowered their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Roth Mkm lifted their price target on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group lowered their price target on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of “Hold” and a consensus price target of $335.21.

Boston Beer Price Performance

Boston Beer stock opened at $283.20 on Monday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 1.16 and a beta of 1.02. Boston Beer has a 1-year low of $274.78 and a 1-year high of $395.52. The business has a fifty day moving average price of $303.71 and a 200-day moving average price of $333.27.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The firm had revenue of $426.05 million during the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a return on equity of 10.00% and a net margin of 4.60%.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAM. Covestor Ltd lifted its holdings in Boston Beer by 88.4% in the third quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. Quarry LP purchased a new stake in Boston Beer in the fourth quarter valued at approximately $42,000. First Command Advisory Services Inc. purchased a new stake in Boston Beer in the third quarter valued at approximately $56,000. DekaBank Deutsche Girozentrale purchased a new stake in Boston Beer in the third quarter valued at approximately $59,000. Finally, CWM LLC raised its position in Boston Beer by 264.2% in the third quarter. CWM LLC now owns 193 shares of the company’s stock valued at $75,000 after purchasing an additional 140 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.