Boston Beer (NYSE:SAM) Updates FY24 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $8.00-$10.00 for the period, compared to the consensus EPS estimate of $9.73.

Analyst Ratings Changes

Several analysts have recently commented on SAM shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Piper Sandler boosted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group increased their target price on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 0.4 %

SAM opened at $301.11 on Friday. The firm has a market cap of $3.46 billion, a P/E ratio of 44.28, a PEG ratio of 1.21 and a beta of 1.07. The business’s fifty day simple moving average is $308.01 and its 200 day simple moving average is $290.82. Boston Beer has a 52 week low of $254.40 and a 52 week high of $371.65.

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.