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

Premium Brands Holdings Co. (TSE:PBH) – Research analysts at Pi Financial issued their Q1 2024 EPS estimates for shares of Premium Brands in a research report issued to clients and investors on Tuesday, April 16th. Pi Financial analyst D. Schilling forecasts that the company will post earnings per share of $0.68 for the quarter. Pi Financial 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 research firms have also issued reports on PBH. BMO Capital Markets reduced their price target on shares of Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. CIBC reduced their price target on shares of Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Royal Bank of Canada reduced their price target on shares of Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating for the company in a research report on Monday, March 18th. Desjardins reduced their price target on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, TD Securities reduced their price target on shares of Premium Brands from C$130.00 to C$120.00 and set a “buy” rating for the company in a research 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 company. Based on data from MarketBeat.com, Premium Brands currently has an average rating of “Moderate Buy” and a consensus target price of C$111.60.

Premium Brands Stock Up 0.3 %

PBH stock opened at C$85.57 on Thursday. The firm has a 50 day moving average of C$89.24 and a 200 day moving average of C$91.48. The stock has a market capitalization of C$3.80 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. 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 EPS for the quarter, missing analysts’ consensus estimates of C$1.13 by C($0.28). The company had revenue of C$1.55 billion during the quarter, compared to analyst estimates of C$1.61 billion. Premium Brands had a return on equity of 5.26% and a net margin of 1.50%.

Premium Brands Increases Dividend

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