Boston Beer (NYSE:SAM) Issues FY22 Earnings Guidance

Boston Beer (NYSE:SAMGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $11.00-16.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $14.00. Boston Beer also updated its FY 2022 guidance to $11.000-$16.000 EPS.

SAM has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Boston Beer in a report on Thursday, March 31st. They set a sell rating for the company. Citigroup lowered their price target on shares of Boston Beer from $499.00 to $424.00 and set a neutral rating on the stock in a research report on Thursday, February 17th. Royal Bank of Canada lowered their price target on shares of Boston Beer from $661.00 to $625.00 and set an outperform rating on the stock in a research report on Friday, January 14th. Credit Suisse Group lowered their price target on shares of Boston Beer from $785.00 to $670.00 and set an outperform rating on the stock in a research report on Thursday, February 17th. Finally, Guggenheim lowered their price target on shares of Boston Beer from $660.00 to $520.00 and set a buy rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $652.73.

Shares of SAM traded down $15.25 during mid-day trading on Thursday, hitting $345.97. 215,154 shares of the company’s stock were exchanged, compared to its average volume of 193,516. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 335.89 and a beta of 0.82. Boston Beer has a fifty-two week low of $342.74 and a fifty-two week high of $1,349.98. The stock’s 50-day moving average is $382.61 and its 200-day moving average is $449.98.

Boston Beer (NYSE:SAMGet Rating) last released its earnings results on Wednesday, February 16th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($3.36). Boston Beer had a return on equity of 14.68% and a net margin of 0.69%. The firm had revenue of $348.09 million for the quarter, compared to analysts’ expectations of $347.52 million. During the same quarter in the previous year, the company posted $2.56 earnings per share. The firm’s quarterly revenue was down 24.5% on a year-over-year basis. As a group, research analysts predict that Boston Beer will post 13.82 EPS for the current fiscal year.

In related news, insider John C. Geist sold 1,008 shares of the company’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 sale, the insider now directly owns 4,752 shares in the company, valued at $1,843,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 24.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in Boston Beer by 115.5% in the second quarter. Morgan Stanley now owns 87,538 shares of the company’s stock valued at $89,359,000 after purchasing an additional 46,921 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Boston Beer by 17.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,562 shares of the company’s stock valued at $110,396,000 after purchasing an additional 32,131 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Boston Beer by 394.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,123 shares of the company’s stock valued at $6,272,000 after purchasing an additional 9,669 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Boston Beer by 20.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 33,753 shares of the company’s stock valued at $17,049,000 after purchasing an additional 5,754 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in Boston Beer in the fourth quarter valued at approximately $2,564,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

About Boston Beer (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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Earnings History and Estimates for Boston Beer (NYSE:SAM)

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