Brokers Issue Forecasts for Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH) – Analysts at National Bank Financial lowered their FY2024 EPS estimates for shares of Premium Brands in a research note issued on Wednesday, November 6th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings per share of $3.95 for the year, down from their previous estimate of $4.20. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share. National Bank Financial also issued estimates for Premium Brands’ Q4 2024 earnings at $1.03 EPS, Q4 2025 earnings at $1.35 EPS and FY2026 earnings at $5.78 EPS.

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

Several other research firms have also issued reports on PBH. National Bankshares raised their price target on shares of Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. CIBC reduced their price objective on shares of Premium Brands from C$103.00 to C$90.00 in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Premium Brands from C$111.00 to C$94.00 in a research report on Thursday. Royal Bank of Canada reduced their price objective on shares of Premium Brands from C$100.00 to C$96.00 in a research report on Thursday. Finally, 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. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of C$108.30.

Premium Brands Stock Performance

The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28. Premium Brands has a fifty-two week low of C$75.67 and a fifty-two week high of C$97.28. The stock’s 50-day moving average price is C$91.17 and its 200 day moving average price is C$90.54. The company has a market cap of C$3.38 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Insider Activity at Premium Brands

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 7,000 shares of the firm’s stock in a transaction 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 currently owned by insiders.

Premium Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of ∞. The ex-dividend date is Tuesday, December 31st. Premium Brands’s payout ratio is currently 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.