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

The Boston Beer Company, Inc. (NYSE:SAM) – Analysts at Roth Capital reduced their Q3 2024 EPS estimates for shares of Boston Beer in a research note issued to investors on Tuesday, October 22nd. Roth Capital analyst W. Kirk now anticipates that the company will earn $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.

Several other research firms have also commented on SAM. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a report on Friday. UBS Group upped their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday. Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday. Finally, Piper Sandler raised their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Down 2.0 %

NYSE:SAM opened at $295.96 on Friday. The company has a market cap of $3.47 billion, a PE ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06. The business’s 50 day moving average is $279.71 and its two-hundred day moving average is $282.24. Boston Beer has a 52 week low of $254.40 and a 52 week high of $372.61.

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

Institutional Investors Weigh In On Boston Beer

Several large investors have recently made changes to their positions in SAM. LRI Investments LLC acquired a new position in shares of Boston Beer during the 1st quarter valued at about $28,000. ORG Partners LLC acquired a new stake in shares of Boston Beer in the second quarter worth $48,000. Sachetta LLC boosted its holdings in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP raised its holdings in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after acquiring an additional 246 shares during the period. Institutional investors own 81.13% of the company’s stock.

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.