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

Premium Brands Holdings Co. (TSE:PBH) – Equities research analysts at National Bank Financial lifted their FY2024 earnings estimates for Premium Brands in a research note issued on Monday, April 29th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $5.11 per share 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.

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

Several other research analysts have also weighed in on PBH. Desjardins decreased their price objective on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a report on Monday, March 18th. CIBC cut their price objective on shares of Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. TD Securities cut their price objective on shares of Premium Brands from C$130.00 to C$120.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. National Bankshares upped their target price on Premium Brands from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price objective 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$111.70.

Premium Brands Price Performance

PBH opened at C$88.13 on Thursday. The company has a fifty day simple moving average of C$88.53 and a 200 day simple moving average of C$91.04. The firm has a market cap of C$3.91 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 1.10 and a beta of 1.01. Premium Brands has a twelve month low of C$84.66 and a twelve month high of C$113.60. 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 Increases Dividend

The company 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. This represents a $3.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Wednesday, March 27th. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. Premium Brands’s dividend payout ratio is 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.