Wedbush Brokers Lower Earnings Estimates for The Boston Beer Company, Inc. (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM) – Equities researchers at Wedbush cut their Q2 2024 EPS estimates for shares of Boston Beer in a research note issued to investors on Friday, April 26th. Wedbush analyst G. Pascarelli now forecasts that the company will earn $4.77 per share for the quarter, down from their prior forecast of $4.96. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share. Wedbush also issued estimates for Boston Beer’s Q2 2025 earnings at $5.75 EPS, Q3 2025 earnings at $5.58 EPS and FY2025 earnings at $12.61 EPS.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reduced their target price on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $337.00 target price on shares of Boston Beer in a research note on Wednesday, February 28th. Evercore ISI boosted their target price on shares of Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research note on Friday. Citigroup reduced their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Finally, Roth Mkm boosted their target price on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $335.21.

Boston Beer Stock Down 1.4 %

Shares of NYSE:SAM opened at $283.20 on Monday. The firm has a 50-day simple moving average of $303.71 and a 200 day simple moving average of $333.27. The company has a market cap of $3.40 billion, a PE ratio of 35.53, a P/E/G ratio of 1.16 and a beta of 1.02. Boston Beer has a fifty-two week low of $274.78 and a fifty-two week high of $395.52.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates 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.

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

About Boston Beer

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.