Brokerages forecast that The Boston Beer Company, Inc. (NYSE:SAM) will post $533.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for The Boston Beer's earnings, with estimates ranging from $518.60 million to $548.78 million. The Boston Beer posted sales of $378.47 million during the same quarter last year, which suggests a positive year over year growth rate of 41%. The company is expected to report its next earnings report after the market closes on Tuesday, November 3rd.
On average, analysts expect that The Boston Beer will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $1.65 billion to $1.76 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.02 billion, with estimates ranging from $1.97 billion to $2.07 billion. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for The Boston Beer.
The Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 23rd. The company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $2.20 by $2.68. The company had revenue of $452.14 million during the quarter, compared to the consensus estimate of $418.75 million. The Boston Beer had a return on equity of 17.51% and a net margin of 9.18%.
Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on The Boston Beer from $815.00 to $1,015.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Guggenheim lifted their price objective on The Boston Beer from $977.00 to $1,142.00 and gave the company a "buy" rating in a research note on Friday, September 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on The Boston Beer from $656.00 to $835.00 and gave the company a "hold" rating in a research note on Thursday, October 15th. Jefferies Financial Group reiterated an "underperform" rating on shares of The Boston Beer in a research note on Friday, July 24th. Finally, Credit Suisse Group lifted their price objective on The Boston Beer from $505.00 to $625.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The Boston Beer has a consensus rating of "Buy" and a consensus target price of $720.85.
Shares of SAM opened at $931.26 on Tuesday. The stock has a 50-day simple moving average of $880.79 and a 200-day simple moving average of $661.80. The stock has a market capitalization of $11.37 billion, a PE ratio of 83.60 and a beta of 1.00. The Boston Beer has a 1 year low of $290.02 and a 1 year high of $986.78.
In other The Boston Beer news, Chairman C James Koch sold 600 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $928.60, for a total value of $557,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samuel A. Calagione III sold 18,754 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $799.02, for a total value of $14,984,821.08. Following the completion of the sale, the insider now owns 6,141 shares of the company's stock, valued at approximately $4,906,781.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,554 shares of company stock valued at $66,976,511. 29.10% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in SAM. Man Group plc increased its holdings in shares of The Boston Beer by 138.9% in the second quarter. Man Group plc now owns 95,299 shares of the company's stock valued at $51,142,000 after purchasing an additional 55,413 shares during the period. APG Asset Management N.V. acquired a new position in shares of The Boston Beer in the first quarter valued at approximately $12,993,000. The Manufacturers Life Insurance Company increased its holdings in shares of The Boston Beer by 159.6% in the first quarter. The Manufacturers Life Insurance Company now owns 46,064 shares of the company's stock valued at $16,932,000 after purchasing an additional 28,322 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of The Boston Beer by 304.5% in the second quarter. Russell Investments Group Ltd. now owns 28,952 shares of the company's stock valued at $15,678,000 after purchasing an additional 21,795 shares during the period. Finally, FMR LLC increased its holdings in shares of The Boston Beer by 29.0% in the first quarter. FMR LLC now owns 90,102 shares of the company's stock valued at $26,555,000 after purchasing an additional 20,259 shares during the period. 70.66% of the stock is currently owned by institutional investors and hedge funds.
About The 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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach, Wild Leaf, and Tura brand names.
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