Ventum Cap Mkts Lowers Earnings Estimates for Premium Brands

Premium Brands Holdings Co. (TSE:PBH) – Research analysts at Ventum Cap Mkts reduced their FY2024 earnings per share estimates for Premium Brands in a report issued on Thursday, November 7th. Ventum Cap Mkts analyst D. Schilling now expects that the company will earn $3.95 per share for the year, down from their prior forecast of $4.71. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share. Ventum Cap Mkts also issued estimates for Premium Brands’ Q4 2024 earnings at $1.02 EPS.

Several other research firms have also commented on PBH. TD Securities cut their price target on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus lowered their price objective on shares of Premium Brands from C$106.00 to C$101.00 in a research report on Thursday, November 7th. National Bankshares raised their price target on 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 Premium Brands from C$103.00 to C$90.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets lowered their target price on Premium Brands from C$111.00 to C$94.00 in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Premium Brands presently has a consensus rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Stock Performance

Shares of PBH stock opened at C$77.70 on Monday. Premium Brands has a 1 year low of C$75.67 and a 1 year high of C$97.28. The company has a debt-to-equity ratio of 161.28, a quick ratio of 1.16 and a current ratio of 1.56. The firm has a market cap of C$3.45 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.10 and a beta of 0.98. The stock’s 50-day moving average is C$90.76 and its two-hundred day moving average is C$90.49.

Premium Brands (TSE:PBH) last posted its earnings results on Wednesday, November 6th. The company reported C$1.11 EPS 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 quarter in the previous year, the company earned $1.27 earnings per share.

Insider Activity at Premium Brands

In related news, Director Johnny Ciampi bought 3,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of C$77.02 per share, with a total value of C$269,570.00. 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. Also, Director Johnny Ciampi bought 3,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of C$77.02 per share, with a total value of C$269,570.00. Company insiders own 2.01% of the company’s stock.

Premium Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.38%. Premium Brands’s dividend payout ratio 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.