Raymond James Predicts Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH - Free Report) - Equities research analysts at Raymond James issued their FY2024 earnings per share (EPS) estimates for Premium Brands in a note issued to investors on Wednesday, December 18th. Raymond James analyst M. Glen forecasts that the company will post earnings per share of $3.77 for the year. Raymond James has a "Moderate Buy" rating on the stock. The consensus estimate for Premium Brands' current full-year earnings is $6.04 per share. Raymond James also issued estimates for Premium Brands' FY2025 earnings at $4.89 EPS and FY2026 earnings at $6.13 EPS.

A number of other brokerages also recently commented on PBH. CIBC lowered their price objective on Premium Brands from C$103.00 to C$90.00 in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a report on Thursday, November 7th. Royal Bank of Canada cut their price objective on shares of Premium Brands from C$100.00 to C$96.00 in a research report on Thursday, November 7th. BMO Capital Markets decreased their target price on shares of Premium Brands from C$111.00 to C$94.00 in a research report on Thursday, November 7th. Finally, TD Securities cut their price target on Premium Brands from C$129.00 to C$120.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$103.11.

Premium Brands Stock Performance

Shares of TSE:PBH traded up C$1.01 during trading on Monday, hitting C$80.10. 60,972 shares of the company traded hands, compared to its average volume of 63,285. The stock has a market capitalization of C$3.56 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.10 and a beta of 0.98. Premium Brands has a one year low of C$75.67 and a one year high of C$97.10. The company has a quick ratio of 1.16, a current ratio of 1.56 and a debt-to-equity ratio of 161.28. The business's fifty day moving average is C$84.02 and its 200-day moving average is C$88.53.

Premium Brands (TSE:PBH - Get Free Report) last posted its quarterly 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 net margin of 1.78% and a return on equity of 6.43%. During the same quarter last year, the business earned $1.27 earnings per share.

Insider Transactions at Premium Brands

In other Premium Brands news, Director Johnny Ciampi purchased 3,500 shares of the firm's stock in a transaction on Friday, November 8th. The shares were purchased at an average price of C$77.02 per share, for a total transaction of C$269,570.00. Company insiders own 2.01% of the company's stock.

Premium Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Tuesday, December 31st. Premium Brands's dividend payout ratio is presently 133.86%.

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.