Equities analysts forecast that Boston Beer Company Inc (NYSE:SAM) will report earnings of $2.64 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Boston Beer’s earnings, with the lowest EPS estimate coming in at $2.38 and the highest estimate coming in at $3.14. Boston Beer posted earnings per share of $2.35 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The company is expected to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that Boston Beer will report full year earnings of $7.37 per share for the current fiscal year, with EPS estimates ranging from $7.00 to $8.06. For the next year, analysts anticipate that the business will report earnings of $8.13 per share, with EPS estimates ranging from $7.63 to $8.99. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Boston Beer.
Get Boston Beer alerts:Boston Beer (NYSE:SAM) last issued its earnings results on Wednesday, April 25th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.30 by $0.25. The company had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $174.87 million. Boston Beer had a net margin of 11.09% and a return on equity of 18.74%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS.
Several brokerages have recently commented on SAM. Zacks Investment Research cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Macquarie boosted their target price on shares of Boston Beer from $200.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. BMO Capital Markets restated a “hold” rating and issued a $210.00 target price on shares of Boston Beer in a research report on Wednesday, April 18th. Stifel Nicolaus upped their price objective on shares of Boston Beer from $169.00 to $235.00 and gave the stock a “hold” rating in a research report on Thursday, April 26th. Finally, ValuEngine upgraded shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $191.91.
In related news, VP David L. Grinnell sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $225.00, for a total transaction of $225,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $675,000. 29.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SAM. Teacher Retirement System of Texas acquired a new position in Boston Beer during the 4th quarter worth approximately $587,000. California Public Employees Retirement System increased its position in Boston Beer by 17.1% in the 4th quarter. California Public Employees Retirement System now owns 12,650 shares of the company’s stock valued at $2,417,000 after acquiring an additional 1,850 shares during the period. The Manufacturers Life Insurance Company increased its position in Boston Beer by 6.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,669 shares of the company’s stock valued at $4,524,000 after acquiring an additional 1,500 shares during the period. Arizona State Retirement System increased its position in Boston Beer by 22.3% in the 4th quarter. Arizona State Retirement System now owns 6,234 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,136 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Boston Beer by 1,493.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 78,119 shares of the company’s stock valued at $14,929,000 after acquiring an additional 73,217 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.
Shares of Boston Beer opened at $304.95 on Tuesday, MarketBeat reports. The company has a market capitalization of $3.55 billion, a PE ratio of 50.74, a PEG ratio of 4.30 and a beta of 0.59. Boston Beer has a 12 month low of $128.75 and a 12 month high of $307.00.
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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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