Research Analysts Issue Forecasts for Premium Brands Holdings Co.’s Q1 2024 Earnings (TSE:PBH)

Premium Brands Holdings Co. (TSE:PBH) – Research analysts at Pi Financial issued their Q1 2024 EPS estimates for Premium Brands in a report issued on Tuesday, April 16th. Pi Financial analyst D. Schilling anticipates that the company will earn $0.68 per share for the quarter. Pi Financial currently has a “Buy” rating and a $112.00 target price 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’ FY2024 earnings at $5.24 EPS and FY2025 earnings at $6.21 EPS.

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

Other research analysts have also issued research reports about the stock. CIBC dropped their price objective on shares of Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Stifel Nicolaus decreased their target price on shares of Premium Brands from C$108.00 to C$104.00 and set a “buy” rating for the company in a research report on Monday, March 18th. TD Securities decreased their target price on shares of Premium Brands from C$130.00 to C$120.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Desjardins decreased their target price on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, Royal Bank of Canada decreased their target price on shares of Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating for the company in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$111.60.

Premium Brands Stock Up 1.1 %

Shares of TSE PBH opened at C$86.54 on Thursday. The company has a 50 day simple moving average of C$89.13 and a 200 day simple moving average of C$91.45. The firm has a market cap 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. Premium Brands has a 1 year low of C$84.66 and a 1 year high of C$113.60. The company has a debt-to-equity ratio of 149.12, a current ratio of 2.08 and a quick ratio of 1.16.

Premium Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.85 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.40 annualized dividend and a yield of 3.93%. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. Premium Brands’s dividend payout ratio (DPR) is presently 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.