Boston Beer (NYSE:SAM) Posts Quarterly Earnings Results, Hits Expectations

Key Points

• Boston Beer met earnings expectations, reporting quarterly EPS of $4.21, while revenue of $520.1 million fell slightly short of the $522.95 million analyst consensus.
• Shares rose 8.3% to $196.94 following the results, though the company posted a negative net margin of 3.42% and has a negative price-to-earnings ratio.
• Analyst sentiment remains cautious: Boston Beer has one Buy, nine Hold, and two Sell ratings, resulting in an average “Reduce” rating and a consensus price target of $205.09.

Boston Beer (NYSE:SAM - Get Free Report) released its quarterly earnings data on Thursday. The company reported $4.21 earnings per share for the quarter, hitting analysts' consensus estimates of $4.21, FiscalAI reports. Boston Beer had a negative net margin of 3.42% and a positive return on equity of 9.99%. The company had revenue of $520.10 million during the quarter, compared to analyst estimates of $522.95 million.

Boston Beer Stock Up 8.3%

Shares of NYSE:SAM traded up $15.13 during midday trading on Thursday, reaching $196.94. The company's stock had a trading volume of 380,145 shares, compared to its average volume of 236,443. The firm has a market capitalization of $2.05 billion, a PE 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. The stock has a fifty day moving average of $174.67 and a 200 day moving average of $187.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SAM shares. UBS Group restated a "neutral" rating on shares of Boston Beer in a report on Friday, October 16th. The Goldman Sachs Group dropped their price objective 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. Royal Bank Of Canada cut their price objective on shares of Boston Beer from $210.00 to $190.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 6th. Morgan Stanley set a $190.00 price objective on shares of Boston Beer and gave the company an "equal weight" rating in a report on Friday, July 24th. Finally, Zacks Research raised shares of Boston Beer from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $205.09.

Boston Beer Company Profile

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.

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