Brokers Issue Forecasts for Premium Brands FY2024 Earnings

Premium Brands Holdings Co. (TSE:PBH) – Stock analysts at National Bank Financial reduced their FY2024 earnings estimates for Premium Brands in a research note issued on Wednesday, November 6th. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $3.95 per share 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 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 last year, the company earned $1.27 earnings per share.

Other equities research analysts also recently issued reports about the stock. TD Securities reduced their price objective on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a research note 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 note on Thursday. Stifel Nicolaus reduced their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research note on Thursday. CIBC reduced their price objective on shares of Premium Brands from C$103.00 to C$90.00 in a research note on Thursday. Finally, National Bankshares increased 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 report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$108.30.

Premium Brands Price Performance

The firm has a market capitalization of C$3.38 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 161.28, a current ratio of 1.56 and a quick ratio of 1.16. Premium Brands has a one year low of C$75.67 and a one year high of C$97.28. The business’s 50-day moving average price is C$91.17 and its 200-day moving average price is C$90.54.

Insider Activity at Premium Brands

In related news, Senior Officer William Dion Kalutycz sold 7,000 shares of the firm’s 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 value of C$604,100.00. 2.01% of the stock is owned by company insiders.

Premium Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.85 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of ∞. Premium Brands’s dividend payout ratio (DPR) is presently 133.86%.

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.