FY2024 EPS Estimates for Premium Brands Lowered by Analyst

Premium Brands Holdings Co. (TSE:PBH) – Equities research analysts at Stifel Canada lowered their FY2024 earnings estimates for shares of Premium Brands in a research report issued to clients and investors on Wednesday, November 6th. Stifel Canada analyst M. Landry now anticipates that the company will post earnings of $3.89 per share for the year, down from their prior forecast of $4.60. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share. Stifel Canada also issued estimates for Premium Brands’ Q4 2024 earnings at $0.97 EPS.

Other research analysts have also recently issued reports about the stock. National Bankshares boosted their price objective on shares of 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. Royal Bank of Canada decreased their target price on shares of Premium Brands from C$100.00 to C$96.00 in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price target on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. BMO Capital Markets reduced their price objective on Premium Brands from C$111.00 to C$94.00 in a research report on Thursday, November 7th. Finally, CIBC dropped their target price on Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Premium Brands has an average rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Price Performance

Shares of TSE:PBH opened at C$79.92 on Monday. The business has a 50-day simple moving average of C$90.61 and a two-hundred day simple moving average of C$90.43. The company has a debt-to-equity ratio of 161.28, a quick ratio of 1.16 and a current ratio of 1.56. The firm has a market cap of C$3.55 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. Premium Brands has a fifty-two week low of C$75.67 and a fifty-two week high of C$97.28.

Premium Brands (TSE:PBH) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share 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 in the previous year, the firm posted $1.27 earnings per share.

Premium Brands Dividend Announcement

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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Premium Brands’s payout ratio is 133.86%.

Insider Transactions at Premium Brands

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