Boston Beer Stock Sinks as Guidance Is Slashed. Truly Continues to Fizzle. (2024)
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Shares of Boston Beer fell sharply Friday after the maker of Sam Adams lager said it could report a loss of as much as $1 a share in 2021.
Boston Beer said in a filing with the Securities and Exchange Commission that it expects 2021 earnings to be between a loss of $1 a share and income of $1, below its previous guidance that called for profit of $2 to $6 a share.
Truly Continues to Fizzle. Shares of Boston Beer fell sharply Friday after the maker of Sam Adams
Sam Adams
Samuel Adams beer is brewed by the Boston Beer Company, which was founded by Jim Koch in Cambridge, MA, where he started the micro-brewery out of his home. Koch comes from a long line of Cincinnati brewers, and Samuel Adams beer was started using a recipe now known as the Samuel Adams Boston Lager.
https://en.wikipedia.org › wiki › Samuel_Adams_(beer)
Adjusted loss per share of 93 cents in fourth-quarter 2022 was wider than the year-ago quarter's loss of 9 cents. The figure also lagged the Zacks Consensus Estimate of earnings of 72 cents and our estimate of earnings of 36 cents. This mainly resulted from increased supply-chain costs and higher operating expenses.
The 13 analysts offering 12-month price forecasts for Boston Beer Company Inc have a median target of 325.00, with a high estimate of 386.00 and a low estimate of 225.00. The median estimate represents a -3.85% decrease from the last price of 338.00.
Boston Beer has received a consensus rating of Hold. The company's average rating score is 1.71, and is based on 2 buy ratings, 6 hold ratings, and 6 sell ratings.
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