What is Roth Capital’s Estimate for Boston Beer Q3 Earnings?

The Boston Beer Company, Inc. (NYSE:SAM) – Stock analysts at Roth Capital dropped their Q3 2024 earnings estimates for shares of Boston Beer in a research note issued on Tuesday, October 22nd. Roth Capital analyst W. Kirk now expects that the company will post earnings of $5.18 per share for the quarter, down from their prior forecast of $5.35. The consensus estimate for Boston Beer’s current full-year earnings is $9.63 per share.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.72 earnings per share.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday. UBS Group boosted their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday. Piper Sandler boosted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Boston Beer has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Down 2.0 %

Boston Beer stock opened at $295.96 on Friday. The firm has a fifty day simple moving average of $279.71 and a two-hundred day simple moving average of $282.30. Boston Beer has a twelve month low of $254.40 and a twelve month high of $372.61. The company has a market capitalization of $3.47 billion, a PE ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Boston Beer by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after acquiring an additional 21,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp grew its position in Boston Beer by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after buying an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after acquiring an additional 1,093 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Company Profile

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.