Cormark Has Weak Estimate for Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH) – Cormark decreased their FY2024 earnings per share (EPS) 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 earn $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.

PBH has been the subject of several other reports. Royal Bank of Canada decreased their price target on Premium Brands from C$100.00 to C$96.00 in a report on Thursday, November 7th. BMO Capital Markets reduced their target price on shares of Premium Brands from C$111.00 to C$94.00 in a research note on Thursday, November 7th. CIBC dropped their price target on shares of Premium Brands from C$103.00 to C$90.00 in a research note on Thursday, November 7th. TD Securities reduced their price objective on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, National Bankshares lifted their price objective on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$108.30.

Premium Brands Trading Up 1.5 %

Shares of PBH stock opened at C$77.70 on Monday. The company has a market capitalization of C$3.45 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. 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 business’s 50 day moving average is C$90.76 and its two-hundred day moving average is C$90.49. Premium Brands has a twelve month low of C$75.67 and a twelve month high of C$97.28.

Premium Brands (TSE:PBH) last issued 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 quarter in the previous year, the company earned $1.27 EPS.

Insider Activity at Premium Brands

In related news, Senior Officer William Dion Kalutycz sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. In related news, Director Johnny Ciampi acquired 3,500 shares of the company’s 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. Also, Senior Officer William Dion Kalutycz sold 7,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total transaction of C$604,100.00. Corporate 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. Stockholders of record on Tuesday, December 31st will be issued a $0.85 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.38%. Premium Brands’s dividend payout ratio (DPR) is 133.86%.

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.