Brokers Set Expectations for Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH) – Stifel Canada lowered their FY2024 earnings estimates for Premium Brands in a research note issued on Wednesday, November 6th. Stifel Canada analyst M. Landry now anticipates that the company will post earnings per share of $3.89 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.

Premium Brands (TSE:PBH) last issued its earnings results on Wednesday, November 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company earned $1.27 EPS.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Premium Brands from C$100.00 to C$96.00 in a research note on Thursday. National Bankshares upped their target price on shares of Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. BMO Capital Markets reduced their price target on shares of Premium Brands from C$111.00 to C$94.00 in a research report on Thursday. TD Securities lowered their price target on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus dropped their price objective on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$108.30.

Premium Brands Trading Up 0.6 %

TSE:PBH opened at C$76.55 on Monday. Premium Brands has a 1 year low of C$75.67 and a 1 year high of C$97.28. 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 stock has a fifty day moving average price of C$90.94 and a two-hundred day moving average price of C$90.55. The stock has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.10 and a beta of 0.98.

Premium Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Premium Brands’s payout ratio is currently 133.86%.

Insider Buying and Selling at Premium Brands

In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total value of C$604,100.00. In other news, Director Johnny Ciampi acquired 3,500 shares of Premium Brands stock in a transaction that occurred on Friday, November 8th. The shares were acquired 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 firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total transaction of C$604,100.00. 2.01% of the stock is owned by insiders.

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.