FY2024 EPS Estimates for Boston Beer Lowered by Roth Capital

The Boston Beer Company, Inc. (NYSE:SAM) – Analysts at Roth Capital reduced their FY2024 EPS estimates for Boston Beer in a note issued to investors on Friday, October 25th. Roth Capital analyst W. Kirk now anticipates that the company will post earnings of $10.91 per share for the year, down from their previous estimate of $10.98. The consensus estimate for Boston Beer’s current full-year earnings is $9.63 per share. Roth Capital also issued estimates for Boston Beer’s Q1 2025 earnings at $1.45 EPS and Q2 2025 earnings at $5.30 EPS.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same period in the prior year, the company posted $4.72 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis.

Several other research firms have also commented on SAM. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the company from $355.00 to $325.00 in a report on Friday. Roth Mkm restated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Piper Sandler upped their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Price Performance

SAM stock opened at $295.96 on Monday. The company has a market capitalization of $3.54 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 12 month low of $254.40 and a 12 month high of $372.61. The firm’s fifty day simple moving average is $279.71 and its 200-day simple moving average is $282.18.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new position in shares of Boston Beer in the 1st quarter valued at $28,000. ORG Partners LLC purchased a new position in Boston Beer during the second quarter worth about $48,000. Sachetta LLC boosted its stake in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after acquiring an additional 95 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after acquiring an additional 246 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.