FY2024 EPS Estimates for Premium Brands Cut by Cormark

Premium Brands Holdings Co. (TSE:PBH - Free Report) - Stock analysts at Cormark reduced their FY2024 earnings estimates for Premium Brands in a research note issued on Monday, January 6th. Cormark analyst K. Mcphee now forecasts that the company will earn $3.90 per share for the year, down from their previous estimate of $3.94. The consensus estimate for Premium Brands' current full-year earnings is $6.04 per share.

A number of other research analysts have also recently commented on PBH. Royal Bank of Canada decreased their price target on Premium Brands from C$100.00 to C$96.00 in a research report on Thursday, November 7th. CIBC dropped their target price on shares of Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. Raymond James set a C$100.00 price target on shares of Premium Brands and gave the stock an "outperform" rating in a research report on Thursday, December 19th. BMO Capital Markets decreased their price objective on shares of Premium Brands from C$111.00 to C$94.00 in a research note on Thursday, November 7th. Finally, Stifel Nicolaus cut their target price on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$103.11.

Premium Brands Price Performance

Premium Brands stock traded down C$0.56 during mid-day trading on Wednesday, reaching C$78.97. 43,080 shares of the company were exchanged, compared to its average volume of 46,729. The firm has a market cap of C$3.51 billion, a PE ratio of 31.09, a PEG ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 161.28, a current ratio of 1.56 and a quick ratio of 1.16. The company has a fifty day simple moving average of C$80.83 and a 200-day simple moving average of C$87.77. Premium Brands has a 12 month low of C$75.67 and a 12 month high of C$97.10.

Premium Brands (TSE:PBH - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported C$1.11 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $1.27 EPS.

Premium Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 4.31%. Premium Brands's payout ratio is presently 133.86%.

Insider Buying and Selling at Premium Brands

In other Premium Brands news, Director Johnny Ciampi acquired 2,000 shares of Premium Brands stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of C$78.78 per share, with a total value of C$157,560.00. Corporate insiders own 2.01% of the company's stock.

About Premium Brands

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.