Boston Beer Co. Inc. SAM stock experienced a surge during pre-market hours on Friday. The company’s shares jumped by 8.02% to $218.
Check out the current price of SAM stock here.
What Happened: The surge in the stock price comes after the company reported its second-quarter financial results. The earnings, released after the market closed on Thursday, showed a mixed performance. While the company’s earnings per share (EPS) exceeded expectations, its revenue fell short.
Boston Beer’s EPS for the quarter was $5.45, surpassing the estimated $4.04. However, the revenue of $587.949 million was lower than the expected $596.426 million.
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Founded in 1984, the American brewery currently holds a market capitalization of $2.25 billion. It has traded between $185.34 and $329.55 over the past year. According to the Benzinga Pro data, Boston Beer Co. currently has a price-to-earnings (P/E) ratio of 33.14.
Why It Matters: The surge in Boston Beer Co.’s stock price is a reflection of investor confidence in the company’s performance despite the revenue miss. The company’s ability to grow its market share in a challenging macroeconomic environment has been a key factor in this positive response.
Citigroup Inc. C had previously lowered its price target for Boston Beer Co. to $230. However, the company’s performance in the second quarter and the subsequent stock surge could lead to a reevaluation of its prospects.
Benzinga's Edge Stock Rankings indicate, SAM has a strong Value score of 75.01. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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