FY2024 EPS Estimates for Premium Brands Cut by Stifel Canada

Premium Brands Holdings Co. (TSE:PBH) – Stock analysts at Stifel Canada cut their FY2024 earnings per share (EPS) estimates for shares of Premium Brands in a research report issued to clients and investors on Wednesday, November 6th. Stifel Canada analyst M. Landry now forecasts that the company will earn $3.89 per share for the year, down from their previous 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 released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $1.27 EPS.

Several other brokerages also recently commented on PBH. Stifel Nicolaus lowered their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research note on Thursday, November 7th. Royal Bank of Canada lowered their price target on Premium Brands from C$100.00 to C$96.00 in a research report on Thursday, November 7th. CIBC cut their price objective on Premium Brands from C$103.00 to C$90.00 in a research report on Thursday, November 7th. National Bankshares upped their target price on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets cut their price target on shares of Premium Brands from C$111.00 to C$94.00 in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$108.30.

Premium Brands Trading Up 2.9 %

Shares of PBH opened at C$79.92 on Monday. The stock has a market capitalization of C$3.55 billion, a P/E ratio of 31.46, a PEG ratio of 1.10 and a beta of 0.98. Premium Brands has a twelve month low of C$75.67 and a twelve month high of C$97.28. The company has a quick ratio of 1.16, a current ratio of 1.56 and a debt-to-equity ratio of 161.28. The firm has a fifty day simple moving average of C$90.61 and a two-hundred day simple moving average of C$90.43.

Insider Activity

In related news, Senior Officer William Dion Kalutycz sold 7,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total value of C$604,100.00. In related news, Director Johnny Ciampi acquired 3,500 shares of the stock in a transaction on Friday, November 8th. The stock was acquired at an average price of C$77.02 per share, for a total transaction of C$269,570.00. Also, Senior Officer William Dion Kalutycz sold 7,000 shares of the 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. Company insiders own 2.01% of the company’s stock.

Premium Brands Announces Dividend

The company also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Premium Brands’s dividend 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.