Q2 2024 EPS Estimates for The Boston Beer Company, Inc. Lowered by Roth Capital (NYSE:SAM)

The Boston Beer Company, Inc. (NYSE:SAM) – Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for Boston Beer in a report issued on Thursday, April 25th. Roth Capital analyst W. Kirk now forecasts that the company will earn $4.96 per share for the quarter, down from their previous forecast of $5.25. The consensus estimate for Boston Beer’s current full-year earnings is $9.91 per share.

Boston Beer (NYSE:SAM) last issued 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. The company had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%.

Several other analysts also recently weighed in on SAM. The Goldman Sachs Group lowered their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Citigroup reduced their target price on Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. UBS Group decreased their price objective on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Roth Mkm upped 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. Finally, Evercore ISI boosted their price objective on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $335.21.

Boston Beer Stock Down 2.5 %

SAM opened at $278.41 on Monday. The firm’s 50 day moving average is $302.38 and its 200-day moving average is $332.89. Boston Beer has a 52-week low of $274.78 and a 52-week high of $395.52. The firm has a market capitalization of $3.35 billion, a P/E ratio of 34.93, a P/E/G ratio of 1.16 and a beta of 1.02.

Insider Buying and Selling

In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction 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 SEC, which can be accessed through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. Corporate insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of Boston Beer by 5.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after purchasing an additional 33 shares in the last quarter. Arizona State Retirement System grew its position in Boston Beer by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 2,759 shares of the company’s stock worth $1,075,000 after purchasing an additional 34 shares during the last quarter. CWM LLC increased its stake in Boston Beer by 17.6% during the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after acquiring an additional 34 shares during the period. Cardinal Capital Management lifted its position in Boston Beer by 1.3% in the fourth quarter. Cardinal Capital Management now owns 2,784 shares of the company’s stock worth $962,000 after purchasing an additional 36 shares during the period. Finally, Covestor Ltd boosted its position in shares of Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.