Boston Beer stock slips ahead of earnings after MKM analyst warns revenue could miss on seltzer weakness

Shares of Boston Beer Co. eased 0.2% in afternoon trading Wednesday, a day before the beer brewer was scheduled to report second-quarter results. MKM Partners analyst Bill Kirk cut his price target on the stock to $974 from $1,204, while reiterating his neutral rating, ahead of the earnings report. "With a slowing seltzer category and underwhelming on-premise contribution, we believe that Boston Beer's 2Q is at risk for a topline miss and that forward guidance needs to be cut," Kirk wrote in a note to clients. Boston Beer is slated to report earnings after Thursday's closing bell. The FactSet consensus for second-quarter earnings per share is $6.60 and for revenue is $657.6 million. For full-year 2021, the company said it expects adjusted EPS of between $22.00 and $26.00, while the FactSet revenue consensus is $2.50 billion. The stock has tumbled 25.5% over the past three months, while the S&P 500 has tacked on 4.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Boston Beer stock slips ahead of earnings after MKM analyst warns revenue could miss on seltzer weakness
Shares of Boston Beer Co. eased 0.2% in afternoon trading Wednesday, a day before the beer brewer was scheduled to report second-quarter results. MKM Partners analyst Bill Kirk cut his price target on the stock to $974 from $1,204, while reiterating his neutral rating, ahead of the earnings report. "With a slowing seltzer category and underwhelming on-premise contribution, we believe that Boston Beer's 2Q is at risk for a topline miss and that forward guidance needs to be cut," Kirk wrote in a note to clients. Boston Beer is slated to report earnings after Thursday's closing bell. The FactSet consensus for second-quarter earnings per share is $6.60 and for revenue is $657.6 million. For full-year 2021, the company said it expects adjusted EPS of between $22.00 and $26.00, while the FactSet revenue consensus is $2.50 billion. The stock has tumbled 25.5% over the past three months, while the S&P 500 has tacked on 4.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.