Desjardins Analysts Decrease Earnings Estimates for Premium Brands Holdings Corp (PBH)

Premium Brands Holdings Corp (TSE:PBH) – Desjardins cut their FY2019 EPS estimates for shares of Premium Brands in a research report issued on Monday, February 11th. Desjardins analyst D. Newman now forecasts that the company will post earnings of $4.22 per share for the year, down from their previous estimate of $4.26. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Premium Brands’ FY2020 earnings at $4.73 EPS.

A number of other analysts have also recently issued reports on PBH. TD Securities cut Premium Brands from an “action list buy” rating to a “buy” rating and cut their price objective for the company from C$145.00 to C$95.00 in a research report on Wednesday, November 14th. National Bank Financial reiterated an “outperform” rating and set a C$95.00 target price on shares of Premium Brands in a research note on Friday, January 18th. Canaccord Genuity lowered their target price on Premium Brands from C$110.00 to C$100.00 in a research note on Wednesday, November 14th. Industrial Alliance Securities reiterated a “buy” rating and set a C$95.00 target price on shares of Premium Brands in a research note on Monday, January 28th. Finally, BMO Capital Markets lowered their target price on Premium Brands from C$137.00 to C$92.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$100.50.

PBH opened at C$78.05 on Wednesday. Premium Brands has a 12-month low of C$66.99 and a 12-month high of C$122.77. The company has a market capitalization of $2.63 billion and a PE ratio of 25.39. The company has a quick ratio of 0.95, a current ratio of 1.92 and a debt-to-equity ratio of 136.58.

Premium Brands (TSE:PBH) last released its quarterly earnings data on Tuesday, November 13th. The company reported C$0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.14 by C($0.20). The firm had revenue of C$835.50 million during the quarter, compared to the consensus estimate of C$835.17 million.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Tuesday, January 15th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, December 27th. Premium Brands’s payout ratio is 60.02%.

In other news, insider Douglas Owen Goss bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was acquired at an average cost of C$69.23 per share, with a total value of C$69,230.00.

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 through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.

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