Jefferies Financial Group Equities Analysts Increase Earnings Estimates for The Boston Beer Company, Inc. (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) – Equities researchers at Jefferies Financial Group increased their Q2 2022 earnings estimates for shares of Boston Beer in a report issued on Thursday, April 21st. Jefferies Financial Group analyst K. Grundy now anticipates that the company will post earnings of $5.66 per share for the quarter, up from their previous forecast of $5.26. Jefferies Financial Group also issued estimates for Boston Beer’s FY2022 earnings at $13.74 EPS and FY2023 earnings at $16.11 EPS.

Other equities analysts have also recently issued reports about the stock. 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 note on Wednesday, April 20th. Credit Suisse Group lowered their price target on shares of Boston Beer from $670.00 to $620.00 and set an “outperform” rating on the stock in a research note on Friday. StockNews.com initiated coverage on shares of Boston Beer in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Cowen lowered their price target on shares of Boston Beer from $500.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Cowen lowered their price objective on shares of Boston Beer from $500.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus target price of $603.69.

NYSE:SAM opened at $350.70 on Monday. Boston Beer has a fifty-two week low of $325.53 and a fifty-two week high of $1,349.98. The stock has a market cap of $4.31 billion, a PE ratio of -79.89 and a beta of 0.82. The firm’s fifty day simple moving average is $379.44 and its 200-day simple moving average is $447.25.

Boston Beer (NYSE:SAM – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $2.13 by ($2.29). The firm had revenue of $430.11 million for the quarter, compared to analysts’ expectations of $444.80 million. Boston Beer had a positive return on equity of 8.95% and a negative net margin of 2.64%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.58 EPS.

In other news, insider John C. Geist sold 1,008 shares of the stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $387.98, for a total transaction of $391,083.84. Following the transaction, the insider now directly owns 4,752 shares in the company, valued at approximately $1,843,680.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Mine & Arao Wealth Creation & Management LLC. purchased a new position in shares of Boston Beer during the 3rd quarter worth about $25,000. FNY Investment Advisers LLC purchased a new position in Boston Beer in the fourth quarter valued at approximately $25,000. Concord Wealth Partners raised its holdings in Boston Beer by 1,733.3% in the fourth quarter. Concord Wealth Partners now owns 55 shares of the company’s stock valued at $28,000 after buying an additional 52 shares during the period. WASHINGTON TRUST Co raised its holdings in Boston Beer by 5,500.0% in the third quarter. WASHINGTON TRUST Co now owns 56 shares of the company’s stock valued at $29,000 after buying an additional 55 shares during the period. Finally, Cornerstone Advisory LLC purchased a new position in Boston Beer in the fourth quarter valued at approximately $30,000. 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.

Recommended Stories