Research Analysts Issue Forecasts for Premium Brands Holdings Co.’s Q1 2024 Earnings (TSE:PBH)

Premium Brands Holdings Co. (TSE:PBH) – Investment analysts at Pi Financial issued their Q1 2024 earnings estimates for Premium Brands in a report issued on Tuesday, April 16th. Pi Financial analyst D. Schilling expects that the company will earn $0.68 per share for the quarter. Pi Financial currently has a “Buy” rating and a $112.00 price target on the stock. The consensus estimate for Premium Brands’ current full-year earnings is $4.84 per share. Pi Financial also issued estimates for Premium Brands’ FY2024 earnings at $5.24 EPS and FY2025 earnings at $6.21 EPS.

A number of other equities analysts also recently issued reports on PBH. Stifel Nicolaus lowered their price target on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating for the company in a report on Monday, March 18th. CIBC lowered their price target on Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Desjardins lowered their price target on Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a report on Monday, March 18th. BMO Capital Markets lowered their price target on Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Finally, Royal Bank of Canada lowered their price target on Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating for the company in a report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Premium Brands has an average rating of “Moderate Buy” and an average target price of C$111.60.

Premium Brands Stock Performance

Shares of PBH opened at C$85.57 on Thursday. The stock has a 50 day moving average price of C$89.24 and a 200 day moving average price of C$91.48. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. The company has a market capitalization of C$3.80 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Premium Brands has a 52-week low of C$84.66 and a 52-week high of C$113.60.

Premium Brands (TSE:PBH) last released its earnings results on Friday, March 15th. The company reported C$0.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.13 by C($0.28). Premium Brands had a return on equity of 5.26% and a net margin of 1.50%. The firm had revenue of C$1.55 billion for the quarter, compared to analysts’ expectations of C$1.61 billion.

Premium Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.85 dividend. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. This represents a $3.40 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Wednesday, March 27th. Premium Brands’s dividend payout ratio is presently 161.14%.

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.