The Boston Beer Company, Inc. (NYSE:SAM) Forecasted to Earn Q2 2024 Earnings of $4.96 Per Share

The Boston Beer Company, Inc. (NYSE:SAM) – Analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for shares of Boston Beer in a research report issued to clients and investors on Thursday, April 25th. Roth Capital analyst W. Kirk now expects that the company will post earnings per share of $4.96 for the quarter, down from their previous forecast of $5.25. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The firm had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million.

A number of other equities analysts have also commented on SAM. Piper Sandler initiated coverage on shares of Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. 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. Roth Mkm upped their target price on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, UBS Group lowered their price target on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $335.21.

Boston Beer Price Performance

NYSE:SAM opened at $285.57 on Monday. Boston Beer has a one year low of $274.78 and a one year high of $395.52. The firm’s 50 day simple moving average is $302.38 and its 200 day simple moving average is $332.89. The company has a market cap of $3.43 billion, a PE ratio of 35.83, a P/E/G ratio of 1.16 and a beta of 1.02.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the firm’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 completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 sale, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. Insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Boston Beer by 26.5% during the third quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock worth $25,922,000 after acquiring an additional 13,951 shares during the period. International Assets Investment Management LLC purchased a new stake in Boston Beer during the fourth quarter worth about $64,490,000. Wedge Capital Management L L P NC bought a new stake in Boston Beer in the fourth quarter worth about $1,010,000. AQR Capital Management LLC boosted its stake in Boston Beer by 65.9% in the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after acquiring an additional 45,864 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Boston Beer by 1.9% during the 3rd quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after acquiring an additional 1,315 shares during the period. Institutional investors own 81.13% of the company’s stock.

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.