Q2 2024 Earnings Forecast for Premium Brands Holdings Co. (TSE:PBH) Issued By Pi Financial

Premium Brands Holdings Co. (TSE:PBH) – Analysts at Pi Financial issued their Q2 2024 earnings estimates for Premium Brands in a research note issued on Tuesday, April 16th. Pi Financial analyst D. Schilling anticipates that the company will post earnings per share of $1.58 for the quarter. Pi Financial 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.

PBH has been the topic of a number of other reports. Desjardins lowered their price target on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. 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 on the stock in a 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 on the stock in a report on Monday, March 18th. BMO Capital Markets reduced their price target on shares of 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, CIBC reduced their price target on shares of 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$111.60.

Premium Brands Stock Performance

Shares of TSE PBH traded up C$0.22 during mid-day trading on Wednesday, reaching C$85.57. 62,401 shares of the company were exchanged, compared to its average volume of 50,049. The company’s 50-day simple moving average is C$89.41 and its 200-day simple moving average is C$91.53. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. The stock has a market capitalization of C$3.80 billion, a P/E ratio of 40.45, a P/E/G 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.

Premium Brands (TSE:PBH) last posted its earnings results 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 company had revenue of C$1.55 billion for the quarter, compared to analyst estimates of C$1.61 billion. Premium Brands had a return on equity of 5.26% and a net margin of 1.50%.

Premium Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Wednesday, March 27th. Premium Brands’s dividend payout ratio 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.