() updated its FY 2023 guidance on Thursday morning. The company gave a EPS range of $6.00 to $10.00 for the period compared with the consensus estimate of $7.45. The company provided revenue guidance of $. Boston Beer updated its FY23 guidance as well to $6.00-10.00 per share.
Boston Beer Stock Performance
The stock rose $1.35 to $317.51 during Friday's trading hours. The stock was traded at a volume of 294,652 compared to the average of 146.455. The stock's market capitalization is $3.90 billion. It has a P/E of 58.47, and a beta value of 1.08. Boston Beer's 12 month low is $287.00, and its 12 month high is $422.75. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.32) by $0.41. The company reported ($0.73) in earnings per share, which was below the consensus estimate ($0.32) of ($0.32). Revenue for the quarter was $410.00 millions, which is lower than the consensus estimate of 41247 million. Boston Beer's return on equity was 8.36%, and its net margin was 3.12%. Boston Beer's revenue for the quarter was down by 4.7% from last year. In the same quarter of the previous year, Boston Beer posted ($0.16) in earnings per share. Analysts predict Boston Beer to post an average 7.88 earnings per shares for the current fiscal.
Wall Street analysts weigh in
Recently, several analysts commented on the stock. Roth Mkm reduced their price target for shares of Boston Beer on Thursday, 16th February from $282.00 down to $276.00. They also set a neutral ratings on the stock. Credit Suisse Group reduced their price target for shares of Boston Beer in a research report on Thursday, 16th February from $400.00 down to $375.00. They also set an outperform ranking on the stock. Jefferies Financial Group downgraded shares of Boston Beer to an underperform and reduced their price target from $331.00 per share to $275.00 per share in a research report on Wednesday, January 4, 2019. Morgan Stanley reduced their price target for Boston Beer shares from $270.00 down to $260.00 on Friday in a research report. UBS Group also reduced its price target on Boston Beer shares from $364.00 down to $349.00. Six analysts have given the company a sell recommendation, eight have given it a hold recommendation and one has assigned it a buy recommendation. MarketBeat reports that Boston Beer currently has an average rating Hold with a consensus target price of $298.58.
Boston Beer: Insider Transactions
On March 1, 2006, 646 Boston Beer shares were sold in a single transaction. The shares were purchased at an average of $320.14 for a transaction totaling $206,810.44. After the transaction, the insider owns directly 5,573 shares worth $1,784,140.22 of the company stock. Insider John C. Geist, in other news, sold 646 Boston Beer shares on March 1st. The shares were purchased at an average of $320.14 for a transaction totaling $206,810.44. After the transaction, the insider owns directly 5,573 shares worth $1,784,140.22 of the company stock. Annette N. Fritsch, the VP of the company, sold 220 shares in a deal on Monday, 6th March. The shares were purchased at an average of $318.37 for a total of $70,004,140.40. After the completion of this sale, the vice-president now owns directly 1,397 shares valued at $444.762.89. Insiders hold 23.30% the stock of the company.
Boston Beer: Institutional Investors weigh in
Recently, institutional investors increased or decreased their stakes. Franklin Resources Inc. purchased a new Boston Beer stake during the fourth quarter, worth approximately $245,000. Deutsche Bank AG increased its Boston Beer position by 146.7% in the fourth quarter. Deutsche Bank AG owns 740 of the company’s shares worth $244,000, after purchasing an additional 440 in the last quarter. Boothbay Fund Management LLC purchased a new Boston Beer stake during the fourth quarter, worth approximately $237,000. Sherbrooke Park Advisers LLC purchased a new Boston Beer stake during the fourth quarter, worth approximately $231,000. Baltimore Washington Financial Advisors Inc. purchased a new Boston Beer stake during the first quarter, worth approximately $229,000. Institutional investors own 68.72%.
Boston Beer Co. Inc produces alcoholic beverages. The company's brands include Truly Hard Seltzer and Twisted Tea. It also produces Hard Cider, Angry Orchard Hard Cider, Samuel Adams and Dogfish Head Craft Brewery. Boston Beer produces hard seltzer and malt beverages ("beers"), as well as hard cider, at its own breweries, cidery and other brewery locations.
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