Boston Beer Co. (SAM) Tops Q3 EPS by $2.01
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Go back to Boston Beer Co. (SAM) Tops Q3 EPS by $2.01
October 23, 2020 9:44 AM EDT
Shares of The Boston Beer Company (NYSE: SAM) are trading about 10% higher in early action Friday after the company reported its revenue grew over 30% compared to a year ago, driven by its Truly Hard Seltzer. Better-than-expected numbers pushed analysts at Citi and Guggenheim, among others, to raise their price target on SAM.
3Q20 EPS was reported at $6.51, which is 78% higher compared to 2019. This number also easily exceeded the consensus of $4.50. Shipments rose 30.5% YoY while net sales were up 30.2%. Gross margins... More
October 23, 2020 6:26 AM EDT
Guggenheim analyst Laurent Grandet raised the price target on Boston Beer Company (NYSE: SAM) to $1,354.00 (from $1,142.00) while maintaining a Buy rating.
The analyst commented, "Boston Beer reported 3Q EPS ahead of our above-consensus ests despite softer volume due to supply constraints driven almost entirely... More
