Boston Beer (SAM) Issues FY 2019 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $8.00-9.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.51. Boston Beer also updated its FY19 guidance to $8.00-9.00 EPS.

A number of analysts have commented on the company. Macquarie upgraded Boston Beer from an underperform rating to a neutral rating and upped their price target for the stock from $260.00 to $275.00 in a research report on Thursday. BMO Capital Markets upped their price target on Boston Beer to $275.00 and gave the stock a market perform rating in a research report on Thursday. Guggenheim restated a buy rating and issued a $308.00 price target on shares of Boston Beer in a research report on Thursday. Citigroup upped their price target on Boston Beer from $285.00 to $290.00 and gave the stock a hold rating in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded Boston Beer from a hold rating to a buy rating and set a $279.00 price target for the company in a research report on Monday, December 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $260.43.

Shares of NYSE:SAM traded up $37.90 during trading on Thursday, hitting $306.20. 417,690 shares of the company’s stock were exchanged, compared to its average volume of 105,881. Boston Beer has a 52-week low of $160.40 and a 52-week high of $329.95. The stock has a market capitalization of $3.09 billion, a P/E ratio of 50.95, a P/E/G ratio of 3.27 and a beta of 0.55.

Boston Beer (NYSE:SAM) last released its earnings results on Wednesday, February 20th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. The firm had revenue of $225.22 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter last year, the business posted $2.57 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Research analysts predict that Boston Beer will post 7.63 EPS for the current year.

In related news, insider David A. Burwick sold 291 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $235.14, for a total transaction of $68,425.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman C James Koch sold 683 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $275.00, for a total value of $187,825.00. The disclosure for this sale can be found here. Insiders have sold 14,197 shares of company stock valued at $3,914,161 in the last quarter. 29.20% of the stock is currently owned by company insiders.

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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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