FY2024 EPS Estimates for Premium Brands Decreased by Cormark

Premium Brands Holdings Co. (TSE:PBH) – Cormark cut their FY2024 earnings estimates for shares of Premium Brands in a research report issued on Monday, January 6th. Cormark analyst K. Mcphee now expects that the company will post earnings per share of $3.90 for the year, down from their previous forecast of $3.94. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share.

A number of other research analysts also recently weighed in on the stock. CIBC lowered their price objective on shares of Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on Premium Brands from C$100.00 to C$96.00 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. National Bankshares increased 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 research report on Thursday, October 24th. Finally, Raymond James set a C$100.00 price objective on shares of Premium Brands and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$103.11.

Premium Brands Price Performance

Shares of PBH opened at C$78.97 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.56 and a debt-to-equity ratio of 161.28. Premium Brands has a twelve month low of C$75.67 and a twelve month high of C$97.10. The company has a market capitalization of C$3.51 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The firm has a 50 day moving average of C$80.83 and a 200 day moving average of C$87.77.

Premium Brands (TSE:PBH) last released its earnings results 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 net margin of 1.78% and a return on equity of 6.43%. During the same quarter in the previous year, the business earned $1.27 EPS.

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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, December 31st. Premium Brands’s payout ratio is presently 133.86%.

Insider Buying and Selling

In other news, Director Johnny Ciampi acquired 2,000 shares of Premium Brands stock in a transaction on Friday, November 29th. The shares were bought at an average cost of C$78.78 per share, for a total transaction of C$157,560.00. 2.01% of the stock is currently owned by insiders.

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.