Premium Brands (TSE:PBH) Earns Buy Rating from Pi Financial

Pi Financial restated their buy rating on shares of Premium Brands (TSE:PBH) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have a C$112.00 price objective on the stock. Pi Financial also issued estimates for Premium Brands’ Q1 2024 earnings at $0.68 EPS, Q2 2024 earnings at $1.58 EPS, Q3 2024 earnings at $1.65 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $5.24 EPS and FY2025 earnings at $6.21 EPS.

A number of other research analysts have also recently commented on PBH. Stifel Nicolaus decreased their price objective on Premium Brands from C$108.00 to C$104.00 and set a buy rating on the stock in a report on Monday, March 18th. TD Securities decreased their price objective on Premium Brands from C$130.00 to C$120.00 and set a buy rating on the stock in a report on Monday, March 18th. Desjardins decreased their price target 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. BMO Capital Markets decreased their price target 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. Finally, Royal Bank of Canada decreased their price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Premium Brands currently has an average rating of Moderate Buy and a consensus target price of C$111.60.

Premium Brands Trading Up 1.4 %

Shares of Premium Brands stock opened at C$87.78 on Tuesday. The stock has a market cap of C$3.90 billion, a P/E ratio of 41.60, a P/E/G ratio of 1.10 and a beta of 1.01. The stock’s 50 day simple moving average is C$89.05 and its 200-day simple moving average is C$91.41. 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 (TSE:PBH) last issued its earnings results on Friday, March 15th. The company reported C$0.85 earnings per share 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 company had revenue of C$1.55 billion for the quarter, compared to analyst estimates of C$1.61 billion. Analysts predict that Premium Brands will post 4.8440524 EPS for the current fiscal year.

Premium Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.87%. 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%.

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.