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

The Boston Beer Company, Inc. (NYSE:SAM) – Investment analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for shares of Boston Beer in a report released 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 prior estimate of $5.25. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share.

Several other analysts have also commented on the company. UBS Group cut their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Citigroup reduced their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $337.00 price objective on shares of Boston Beer in a research report on Wednesday, February 28th. Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, Piper Sandler began coverage on Boston Beer in a research report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $335.21.

Boston Beer Trading Down 1.4 %

Boston Beer stock opened at $283.20 on Monday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 1.16 and a beta of 1.02. The stock has a fifty day simple moving average of $303.71 and a two-hundred day simple moving average of $333.27. Boston Beer has a 12 month low of $274.78 and a 12 month high of $395.52.

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

Hedge Funds Weigh In On Boston Beer

A number of hedge funds have recently made changes to their positions in SAM. New York State Teachers Retirement System boosted its stake in Boston Beer by 3.3% during the first quarter. New York State Teachers Retirement System now owns 14,081 shares of the company’s stock valued at $4,287,000 after buying an additional 448 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Boston Beer by 205.1% during the first quarter. Assenagon Asset Management S.A. now owns 16,058 shares of the company’s stock valued at $4,888,000 after buying an additional 10,794 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Boston Beer by 3.8% during the first quarter. Louisiana State Employees Retirement System now owns 2,700 shares of the company’s stock valued at $822,000 after buying an additional 100 shares during the last quarter. Foguth Wealth Management LLC. bought a new position in Boston Beer during the first quarter valued at approximately $243,000. Finally, Cardinal Capital Management boosted its stake in Boston Beer by 45.5% during the first quarter. Cardinal Capital Management now owns 4,051 shares of the company’s stock valued at $1,233,000 after buying an additional 1,267 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Insider Buying and Selling at Boston Beer

In other news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now owns 2,630 shares of the company’s stock, valued at $922,393.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by corporate insiders.

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.