Premium Brands’ (PBH) “Buy” Rating Reiterated at Pi Financial

Pi Financial restated their buy rating on shares of Premium Brands (TSE:PBH) in a research report released on Tuesday morning, Marketbeat.com reports. The firm currently has a C$112.00 target price 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.

PBH has been the subject of several other research reports. TD Securities decreased their price target 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. Stifel Nicolaus decreased their price objective 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. CIBC dropped their price objective on Premium Brands from C$102.00 to C$97.00 and set a neutral rating on the stock in a report on Monday, March 18th. BMO Capital Markets decreased their target price on Premium Brands from C$117.00 to C$115.00 and set an outperform rating for the company in a research note on Monday, March 18th. 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 issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$111.60.

Premium Brands Trading Up 1.1 %

PBH opened at C$86.54 on Tuesday. The business has a fifty day simple moving average of C$89.13 and a 200-day simple moving average of C$91.45. Premium Brands has a 52 week low of C$84.66 and a 52 week high of C$113.60. 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 firm has a market cap of C$3.84 billion, a P/E ratio of 41.01, a P/E/G ratio of 1.10 and a beta of 1.01.

Premium Brands (TSE:PBH) last issued its quarterly 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). Premium Brands had a return on equity of 5.26% and a net margin of 1.50%. The business had revenue of C$1.55 billion for the quarter, compared to analysts’ expectations of C$1.61 billion. On average, equities analysts expect that Premium Brands will post 4.8440524 earnings per share for the current year.

Premium Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.85 dividend. This is a boost from Premium Brands’s previous quarterly dividend of $0.77. This represents a $3.40 annualized dividend and a yield of 3.93%. The ex-dividend date was Wednesday, March 27th. Premium Brands’s 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.