Boston Beer (NYSE:SAM) Posts Earnings Results

Boston Beer (NYSE:SAM) released its earnings results on Thursday. The company reported $4.21 EPS for the quarter, meeting the consensus estimate of $4.21, FiscalAI reports. Boston Beer had a positive return on equity of 9.99% and a negative net margin of 3.42%. The company had revenue of $520.10 million during the quarter, compared to analysts’ expectations of $522.95 million.

Boston Beer Stock Performance

Shares of Boston Beer stock traded up $15.13 on Thursday, hitting $196.94. The stock had a trading volume of 380,145 shares, compared to its average volume of 236,443. The stock has a 50 day moving average of $174.67 and a 200 day moving average of $187.34. The firm has a market capitalization of $2.05 billion, a P/E ratio of -29.01 and a beta of 0.82. Boston Beer has a twelve month low of $158.68 and a twelve month high of $264.46.

Wall Street Analysts Forecast Growth

SAM has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Boston Beer in a report on Monday, August 3rd. Citigroup decreased their price objective on shares of Boston Beer from $195.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft set a $176.00 target price on shares of Boston Beer in a research report on Friday, July 24th. The Goldman Sachs Group cut their target price on shares of Boston Beer from $192.00 to $169.00 and set a “sell” rating on the stock in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 target price on shares of Boston Beer in a research note on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $205.09.

About Boston Beer

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.