Brokerages predict that Boston Beer Company Inc (NYSE:SAM) will report $172.14 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Boston Beer’s earnings, with estimates ranging from $169.80 million to $174.48 million. Boston Beer reported sales of $161.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Boston Beer will report full-year sales of $172.14 million for the current fiscal year, with estimates ranging from $872.86 million to $889.40 million. For the next fiscal year, analysts forecast that the company will post sales of $893.55 million per share, with estimates ranging from $879.79 million to $907.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Boston Beer.
Boston Beer (NYSE:SAM) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. The firm had revenue of $206.32 million during the quarter, compared to the consensus estimate of $206.46 million. Boston Beer had a return on equity of 18.55% and a net margin of 11.04%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share.
Several equities research analysts have recently commented on the company. ValuEngine downgraded Boston Beer from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Credit Suisse Group reiterated a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of Boston Beer in a report on Thursday, February 22nd. BMO Capital Markets began coverage on Boston Beer in a report on Monday, February 5th. They set a “market perform” rating and a $180.00 price target for the company. Jefferies Group reiterated a “hold” rating and set a $175.00 price target on shares of Boston Beer in a report on Thursday, January 4th. Finally, Macquarie upgraded Boston Beer from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Boston Beer has a consensus rating of “Hold” and an average target price of $161.33.
In other Boston Beer news, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $186.75, for a total value of $186,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Burwick sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $190.01, for a total value of $950,050.00. The disclosure for this sale can be found here. Insiders have sold 106,459 shares of company stock valued at $20,152,166 in the last quarter. 31.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SAM. JPMorgan Chase & Co. boosted its position in Boston Beer by 443.2% in the third quarter. JPMorgan Chase & Co. now owns 118,251 shares of the company’s stock worth $18,802,000 after purchasing an additional 96,481 shares during the last quarter. Victory Capital Management Inc. boosted its position in Boston Beer by 6,658.4% in the fourth quarter. Victory Capital Management Inc. now owns 77,654 shares of the company’s stock worth $14,840,000 after purchasing an additional 76,505 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Boston Beer by 1,493.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 78,119 shares of the company’s stock worth $14,929,000 after purchasing an additional 73,217 shares during the last quarter. Teachers Advisors LLC boosted its position in Boston Beer by 429.5% in the fourth quarter. Teachers Advisors LLC now owns 85,321 shares of the company’s stock worth $16,305,000 after purchasing an additional 69,206 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Boston Beer by 104.8% in the third quarter. Prudential Financial Inc. now owns 132,762 shares of the company’s stock worth $20,738,000 after purchasing an additional 67,940 shares during the last quarter. 73.25% of the stock is currently owned by institutional investors and hedge funds.
Boston Beer (NYSE:SAM) traded up $4.00 during midday trading on Wednesday, hitting $181.70. The stock had a trading volume of 194,006 shares, compared to its average volume of 176,387. The company has a market capitalization of $2,102.37, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.65. Boston Beer has a 52-week low of $128.70 and a 52-week high of $202.35.
Boston Beer Company Profile
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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