Boston Beer (NYSE:SAM) Updates FY 2022 Earnings Guidance

Boston Beer (NYSE:SAM – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $11.000-$16.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $13.850. The company issued revenue guidance of -.

Shares of NYSE:SAM traded down $18.90 during midday trading on Thursday, reaching $345.97. The company had a trading volume of 226,770 shares, compared to its average volume of 193,396. The business’s 50 day moving average price is $382.61 and its 200 day moving average price is $449.98. The stock has a market cap of $4.25 billion, a PE ratio of 350.70 and a beta of 0.82. Boston Beer has a 1-year low of $342.74 and a 1-year high of $1,349.98.

Boston Beer (NYSE:SAM – Get Rating) last released its earnings results on Wednesday, February 16th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.27 by ($3.36). Boston Beer had a net margin of 0.69% and a return on equity of 14.68%. The company had revenue of $348.09 million during the quarter, compared to analyst estimates of $347.52 million. During the same period in the prior year, the firm posted $2.56 EPS. Boston Beer’s revenue was down 24.5% compared to the same quarter last year. On average, analysts expect that Boston Beer will post 13.82 earnings per share for the current year.

A number of equities analysts recently commented on SAM shares. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $442.00 to $420.00 and set a hold rating for the company in a report on Wednesday, April 13th. Evercore ISI reiterated a buy rating and set a $600.00 price target on shares of Boston Beer in a report on Friday, January 14th. Credit Suisse Group reduced their price target on Boston Beer from $785.00 to $670.00 and set an outperform rating for the company in a report on Thursday, February 17th. Royal Bank of Canada reduced their price objective on Boston Beer from $661.00 to $625.00 and set an outperform rating for the company in a report on Friday, January 14th. Finally, Guggenheim reduced their price objective on Boston Beer from $660.00 to $520.00 and set a buy rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $652.73.

In other Boston Beer news, insider John C. Geist sold 1,008 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 4,752 shares in the company, valued at $1,843,680.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SAM. Toroso Investments LLC increased its holdings in shares of Boston Beer by 175.0% during the fourth quarter. Toroso Investments LLC now owns 1,790 shares of the company’s stock worth $904,000 after buying an additional 1,139 shares in the last quarter. Founders Capital Management LLC acquired a new position in shares of Boston Beer during the fourth quarter worth $1,179,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Boston Beer by 115.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,525 shares of the company’s stock worth $2,285,000 after buying an additional 2,425 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Boston Beer by 0.9% during the fourth quarter. MetLife Investment Management LLC now owns 4,550 shares of the company’s stock worth $2,298,000 after buying an additional 40 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Boston Beer during the fourth quarter worth $2,564,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

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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