Premium Brands FY2024 EPS Forecast Lowered by Stifel Canada

Premium Brands Holdings Co. (TSE:PBH - Free Report) - Equities research analysts at Stifel Canada reduced their FY2024 earnings per share (EPS) estimates for shares of Premium Brands in a report issued on Wednesday, November 6th. Stifel Canada analyst M. Landry now anticipates that the company will earn $3.89 per share for the year, down from their previous forecast of $4.60. The consensus estimate for Premium Brands' current full-year earnings is $6.04 per share. Stifel Canada also issued estimates for Premium Brands' Q4 2024 earnings at $0.97 EPS.

Other equities research analysts have also recently issued research reports about the company. TD Securities decreased their price target on Premium Brands from C$129.00 to C$120.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank of Canada decreased their price target on Premium Brands from C$100.00 to C$96.00 in a research note on Thursday. CIBC decreased their price target on Premium Brands from C$103.00 to C$90.00 in a research note on Thursday. BMO Capital Markets decreased their price target on Premium Brands from C$111.00 to C$94.00 in a research note on Thursday. Finally, Stifel Nicolaus decreased their price target on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$108.30.

Premium Brands Price Performance

PBH traded up C$1.37 on Monday, reaching C$77.92. The stock had a trading volume of 846,259 shares, compared to its average volume of 57,410. Premium Brands has a fifty-two week low of C$75.67 and a fifty-two week high of C$97.28. The firm has a 50-day moving average of C$90.94 and a 200-day moving average of C$90.55. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28. The company has a market capitalization of C$3.46 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Premium Brands (TSE:PBH - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.36 by C($0.25). Premium Brands had a return on equity of 6.43% and a net margin of 1.78%. During the same period last year, the firm posted $1.27 earnings per share.

Premium Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 4.36%. Premium Brands's payout ratio is 133.86%.

Insider Activity at Premium Brands

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total value of C$604,100.00. In other Premium Brands news, Director Johnny Ciampi purchased 3,500 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of C$77.02 per share, with a total value of C$269,570.00. Also, Senior Officer William Dion Kalutycz sold 7,000 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total value of C$604,100.00. 2.01% of the stock is owned by corporate insiders.

Premium Brands Company Profile

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.