Ventum Cap Mkts Forecasts Lower Earnings for Premium Brands

Premium Brands Holdings Co. (TSE:PBH - Free Report) - Equities researchers at Ventum Cap Mkts lowered their FY2024 earnings per share estimates for Premium Brands in a research report issued on Thursday, November 7th. Ventum Cap Mkts analyst D. Schilling now anticipates that the company will earn $3.95 per share for the year, down from their previous forecast of $4.71. The consensus estimate for Premium Brands' current full-year earnings is $6.04 per share. Ventum Cap Mkts also issued estimates for Premium Brands' Q4 2024 earnings at $1.02 EPS.

Premium Brands (TSE:PBH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 earnings per share (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 period last year, the business earned $1.27 EPS.

A number of other analysts have also weighed in on the company. BMO Capital Markets lowered their target price on Premium Brands from C$111.00 to C$94.00 in a research note on Thursday. TD Securities lowered their price objective on Premium Brands from C$129.00 to C$120.00 and set a "buy" rating for the company in a research report on Thursday. CIBC reduced their target price on Premium Brands from C$103.00 to C$90.00 in a report on Thursday. 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 cut their price objective on Premium Brands from C$100.00 to C$96.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$108.30.

Premium Brands Price Performance

Shares of TSE:PBH traded up C$1.37 during midday trading on Monday, reaching C$77.92. The company's 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 company has a market capitalization of C$3.46 billion, a P/E ratio of 30.14, a P/E/G 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 business's fifty day simple moving average is C$90.94 and its 200-day simple moving average is C$90.55.

Insiders Place Their Bets

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

Premium Brands Announces Dividend

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