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SAM

Boston Beer

$270.51

-8.8 (-3.15%)

16:44
10/25/18
10/25
16:44
10/25/18
16:44

Boston Beer sees FY18 adjusted EPS 7.10-$7.70, consensus $7.55

This Non-GAAP projection excludes the impact of ASU 2016-09. The Company's actual 2018 earnings per share could vary significantly from the current projection. Underlying the Company's current 2018 projection are the following full-year estimates and targets: Depletions and shipments growth of between 12% and 15%. Price increases per barrel of between 1% and 2%. Gross margin of between 50% and 52%. Increased investments in advertising, promotional and selling expenses of between $15 million and $25 million. This does not include any changes in freight costs for the shipment of products to the Company's distributors. Increased general and administrative expenses of between $10 million and $20 million due to organizational investments and stock compensation costs. Non-GAAP effective tax rate of approximately 24%, which includes the favorable one-time impact of $0.38 per diluted share due to tax accounting method changes reported in the third quarter, but excludes the impact of ASU 2016-09. Estimated capital spending of between $65 million and $75 million, most of which relates to continued investments in the Company's breweries and taprooms.

  • 28

    Oct

SAM Boston Beer
$270.51

-8.8 (-3.15%)

07/25/18
07/25/18
DOWNGRADE

Underperform
Boston Beer downgraded to Underperform on valuation at Macquarie
As previously reported, Macquarie downgraded Boston Beer to Underperform from Neutral as it believes the stock is overvalued. While the firm expects solid Q2 based on strong non-beer performance, beer should remain weak.
07/27/18
RBCM
07/27/18
NO CHANGE
Target $210
RBCM
Sector Perform
Boston Beer price target raised to $210 from $181 at RBC Capital
RBC Capital analyst Nik Modi raised his price target on Boston Beer to $210 after the company's Q2 results. Modi states that despite the very strong volume reported in the quarter, the stock's aftermarket 16% selloff was driven by the revised gross margin guidance coming from the higher commodity and logistics costs. The analyst also keeps his Sector Perform rating on Boston Beer, adding that although he has a bullish outlook on craft beer industry, he sees the company losing market share from its "fewer incremental innovations and declining cider category".
09/13/18
GUGG
09/13/18
INITIATION
GUGG
Buy
Boston Beer initiated with a Buy at Guggenheim
09/14/18
GUGG
09/14/18
INITIATION
Target $381
GUGG
Buy
Boston Beer initiated with a Buy on top-line growth at Guggenheim
Guggenheim analyst Laurent Grandet initiated Boston Beer with a Buy and $381 price target saying he expects FY19/FY20 growth 6%/8% above consensus driven by key innovations and a recovery from the Samuel Adams franchise.

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