Brokers Set Expectations for Premium Brands Holdings Co.’s FY2024 Earnings (TSE:PBH)

Premium Brands Holdings Co. (TSE:PBH) – Stock analysts at National Bank Financial raised their FY2024 earnings per share estimates for Premium Brands in a research report issued to clients and investors on Monday, April 29th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings per share of $5.11 for the year, up from their previous estimate of $5.09. The consensus estimate for Premium Brands’ current full-year earnings is $4.84 per share.

A number of other brokerages have also commented on PBH. TD Securities dropped their price target on Premium Brands from C$130.00 to C$120.00 and set a “buy” rating for the company in a research note on Monday, March 18th. CIBC dropped their price target on Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. National Bankshares raised their price objective on Premium Brands from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research note on Tuesday. BMO Capital Markets lowered their price objective on Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Finally, Stifel Nicolaus lowered their price objective on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating for the company in a research note on Monday, March 18th. 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, the company has an average rating of “Moderate Buy” and an average price target of C$111.70.

Premium Brands Stock Performance

TSE:PBH opened at C$88.13 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.16 and a debt-to-equity ratio of 149.12. Premium Brands has a 12-month low of C$84.66 and a 12-month high of C$113.60. The stock has a 50-day moving average price of C$88.53 and a 200 day moving average price of C$91.04. The stock has a market capitalization of C$3.91 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.10 and a beta of 1.01.

Premium Brands (TSE:PBH) last released its earnings results on Friday, March 15th. The company reported C$0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.13 by C($0.28). Premium Brands had a return on equity of 5.26% and a net margin of 1.50%. The business had revenue of C$1.55 billion for the quarter, compared to analysts’ expectations of C$1.61 billion.

Premium Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.85 per share. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. This represents a $3.40 annualized dividend and a yield of 3.86%. The ex-dividend date was Wednesday, March 27th. Premium Brands’s dividend payout ratio (DPR) is presently 161.14%.

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.