FY2024 EPS Estimates for Premium Brands Reduced by Cormark

Premium Brands Holdings Co. (TSE:PBH) – Equities researchers at Cormark lowered their FY2024 earnings estimates for shares of Premium Brands in a research note issued to investors on Thursday, November 7th. Cormark analyst K. Mcphee now anticipates that the company will post earnings per share of $3.94 for the year, down from their previous forecast of $4.48. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share. Cormark also issued estimates for Premium Brands’ FY2025 earnings at $5.51 EPS, FY2026 earnings at $7.59 EPS and FY2027 earnings at $8.71 EPS.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research report on Thursday, November 7th. BMO Capital Markets reduced their price objective on Premium Brands from C$111.00 to C$94.00 in a research report on Thursday, November 7th. CIBC reduced their price target on shares of Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. National Bankshares boosted their price objective 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. Finally, TD Securities reduced their target price on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$108.30.

Premium Brands Price Performance

PBH stock opened at C$77.70 on Monday. The firm has a 50 day moving average of C$90.76 and a 200-day moving average of C$90.49. The firm has a market capitalization of C$3.45 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. Premium Brands has a 12 month low of C$75.67 and a 12 month high of C$97.28. 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 (TSE:PBH) last released its quarterly earnings data 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 return on equity of 6.43% and a net margin of 1.78%. During the same quarter in the prior year, the company earned $1.27 earnings per share.

Premium Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 annualized dividend and a yield of 4.38%. Premium Brands’s dividend payout ratio (DPR) is presently 133.86%.

Insider Activity at Premium Brands

In related news, Director Johnny Ciampi acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of C$77.02 per share, with a total value of C$269,570.00. In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. Also, Director Johnny Ciampi bought 3,500 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of C$77.02 per share, for a total transaction of C$269,570.00. 2.01% of the stock is owned by corporate insiders.

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.