Boston Beer (NYSE:SAM) Issues FY21 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY21 earnings guidance on Thursday. The company provided EPS guidance of $(1.00)-1.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.99.

Several research analysts recently commented on the company. MKM Partners reduced their price objective on Boston Beer from $475.00 to $440.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $564.00 to $492.00 and set a hold rating for the company in a research note on Friday, October 22nd. Jefferies Financial Group raised Boston Beer from an underperform rating to a hold rating and increased their price objective for the company from $440.00 to $535.00 in a research note on Monday, December 20th. Royal Bank of Canada reduced their price objective on Boston Beer from $661.00 to $625.00 and set an outperform rating for the company in a research note on Friday. Finally, UBS Group reduced their price objective on Boston Beer from $775.00 to $700.00 and set a buy rating for the company in a research note on Friday, October 22nd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Boston Beer currently has an average rating of Buy and a consensus price target of $764.87.

Shares of SAM opened at $449.33 on Friday. Boston Beer has a 52-week low of $428.13 and a 52-week high of $1,349.98. The company has a market capitalization of $5.52 billion, a PE ratio of 56.95 and a beta of 0.72. The stock has a fifty day simple moving average of $492.39 and a two-hundred day simple moving average of $591.12.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Wednesday, October 20th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.60 by ($6.47). The business had revenue of $561.64 million for the quarter, compared to analyst estimates of $496.90 million. Boston Beer had a return on equity of 17.98% and a net margin of 4.49%. During the same period in the previous year, the business posted $6.10 earnings per share. On average, equities analysts expect that Boston Beer will post 16.41 EPS for the current year.

In related news, VP Quincy B. Troupe sold 842 shares of the firm’s stock in a transaction dated Friday, January 7th. The stock was sold at an average price of $500.00, for a total transaction of $421,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel A. Calagione III sold 20,503 shares of the firm’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $499.18, for a total value of $10,234,687.54. The disclosure for this sale can be found here. Insiders have sold a total of 28,188 shares of company stock valued at $14,152,068 over the last three months. Corporate insiders own 24.30% of the company’s stock.

A hedge fund recently raised its stake in Boston Beer stock. Morgan Stanley boosted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 115.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,538 shares of the company’s stock after acquiring an additional 46,921 shares during the quarter. Morgan Stanley owned 0.71% of Boston Beer worth $89,359,000 at the end of the most recent quarter. 65.46% of the stock is currently owned by institutional investors.

About Boston Beer

Boston Beer Co, Inc engages in the business of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head, and Craft Brewery. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.

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Earnings History and Estimates for Boston Beer (NYSE:SAM)

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