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) – Equities research analysts at Roth Capital lowered their Q2 2024 EPS estimates for Boston Beer in a research report issued to clients and investors on Thursday, April 25th. Roth Capital analyst W. Kirk now expects that the company will earn $4.96 per share for the quarter, down from their previous estimate of $5.25. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share.

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

SAM has been the subject of several other research reports. Piper Sandler began coverage on shares of Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price for the company. Morgan Stanley cut their price target on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Evercore ISI increased their price target on shares of Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a report on Friday. Sanford C. Bernstein raised shares of Boston Beer from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $337.00 price target on shares of Boston Beer in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $335.21.

Boston Beer Stock Performance

Shares of SAM opened at $283.20 on Monday. Boston Beer has a fifty-two week low of $274.78 and a fifty-two week high of $395.52. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The firm has a 50-day simple moving average of $303.71 and a 200-day simple moving average of $333.27.

Institutional Trading of Boston Beer

Large investors have recently modified their holdings of the business. Covestor Ltd boosted its position in Boston Beer by 88.4% during the third quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. Quarry LP acquired a new stake in Boston Beer during the fourth quarter worth approximately $42,000. First Command Advisory Services Inc. acquired a new stake in Boston Beer during the third quarter worth approximately $56,000. DekaBank Deutsche Girozentrale acquired a new stake in Boston Beer during the third quarter worth approximately $59,000. Finally, CWM LLC boosted its position in Boston Beer by 264.2% during the third quarter. CWM LLC now owns 193 shares of the company’s stock worth $75,000 after acquiring an additional 140 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now directly owns 2,630 shares in the company, valued at $922,393.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares in the company, valued at $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.