Brokers Offer Predictions for Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH - Free Report) - Stock analysts at Cormark lowered their FY2024 earnings per share estimates for shares of Premium Brands in a research note issued to investors on Thursday, November 7th. Cormark analyst K. Mcphee now forecasts that the company will post earnings of $3.94 per share for the year, down from their prior forecast of $4.48. The consensus estimate for Premium Brands' current full-year earnings is $6.04 per share. Cormark also issued estimates for Premium Brands' FY2025 earnings at $5.51 EPS, FY2026 earnings at $7.59 EPS and FY2027 earnings at $8.71 EPS.

Premium Brands (TSE:PBH - Get Free Report) last announced its quarterly 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 net margin of 1.78% and a return on equity of 6.43%. During the same period in the previous year, the company posted $1.27 EPS.

A number of other research analysts also recently weighed in on PBH. CIBC reduced their target price on Premium Brands from C$103.00 to C$90.00 in a report on Thursday. TD Securities reduced their target price on Premium Brands from C$129.00 to C$120.00 and set a "buy" rating on the stock in a report on Thursday. National Bankshares upped their target price on Premium Brands from C$101.00 to C$109.00 and gave the stock a "sector perform" rating in a report on Thursday, October 24th. Stifel Nicolaus reduced their target price on Premium Brands from C$106.00 to C$101.00 in a report on Thursday. Finally, Royal Bank of Canada reduced their target price on Premium Brands from C$100.00 to C$96.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$108.30.

Premium Brands Stock Up 1.8 %

Shares of PBH stock traded up C$1.37 during midday trading on Monday, reaching C$77.92. 846,259 shares of the stock were exchanged, compared to its average volume of 57,410. Premium Brands has a 1 year low of C$75.67 and a 1 year high of C$97.28. The company's 50 day moving average is C$90.94 and its two-hundred day moving average is 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 firm has a market cap of C$3.46 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Premium Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued 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

In other news, Director Johnny Ciampi purchased 3,500 shares of the stock in a transaction dated Friday, November 8th. The shares were purchased at an average cost of C$77.02 per share, with a total value of C$269,570.00. In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the company'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. Also, Director Johnny Ciampi acquired 3,500 shares of Premium Brands stock in a transaction dated Friday, November 8th. The stock was bought at an average price of C$77.02 per share, with a total value of C$269,570.00. Insiders own 2.01% of the company's stock.

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.