Premium Brands Holdings Co. Expected to Post Q2 2024 Earnings of $1.58 Per Share (TSE:PBH)

Premium Brands Holdings Co. (TSE:PBH) – Investment analysts at Pi Financial issued their Q2 2024 earnings per share (EPS) estimates for Premium Brands in a research note issued to investors on Tuesday, April 16th. Pi Financial analyst D. Schilling forecasts that the company will post earnings of $1.58 per share for the quarter. Pi Financial currently has a “Buy” rating and a $112.00 price objective 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’ Q3 2024 earnings at $1.65 EPS and Q4 2024 earnings at $1.32 EPS.

Premium Brands (TSE:PBH) last announced 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 net margin of 1.50% and a return on equity of 5.26%. The business had revenue of C$1.55 billion for the quarter, compared to analysts’ expectations of C$1.61 billion.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets dropped their price objective on Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Desjardins dropped their price objective on Premium Brands from C$110.00 to C$105.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. CIBC dropped their price objective on Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. TD Securities dropped their price objective on Premium Brands from C$130.00 to C$120.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Finally, Royal Bank of Canada dropped their price objective on Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating on the stock in a research note on Monday, March 18th. Three equities 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.com, Premium Brands presently has an average rating of “Moderate Buy” and a consensus target price of C$111.60.

Premium Brands Stock Up 1.1 %

Shares of TSE:PBH opened at C$86.54 on Wednesday. The company has a debt-to-equity ratio of 149.12, a current ratio of 2.08 and a quick ratio of 1.16. The firm has a market capitalization of C$3.84 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business has a 50 day simple moving average of C$89.13 and a two-hundred day simple moving average of C$91.45. Premium Brands has a 1 year low of C$84.66 and a 1 year high of C$113.60.

Premium Brands Increases Dividend

The firm also recently disclosed 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 3.93%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Premium Brands’s previous quarterly dividend of $0.77. Premium Brands’s dividend payout ratio is currently 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.