Premium Brands’ (PBH) Buy Rating Reaffirmed at Pi Financial

Pi Financial reaffirmed their buy rating on shares of Premium Brands (TSE:PBH) in a research report released on Tuesday, MarketBeat.com reports. They currently have 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.

A number of other research firms also recently weighed in on PBH. Desjardins cut 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 reduced their target price on Premium Brands from C$117.00 to C$115.00 and set an outperform rating on the stock in a report on Monday, March 18th. CIBC lowered their price target on Premium Brands from C$102.00 to C$97.00 and set a neutral rating for the company in a research note on Monday, March 18th. Royal Bank of Canada decreased 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 report on Monday, March 18th. Finally, TD Securities cut 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of C$111.60.

Premium Brands Trading Up 1.1 %

PBH stock opened at C$86.54 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. Premium Brands has a twelve month low of C$84.66 and a twelve month high of C$113.60. The company has a market cap of C$3.84 billion, a P/E ratio of 41.01, a PEG ratio of 1.10 and a beta of 1.01. The business has a fifty day moving average of C$89.13 and a 200-day moving average of C$91.45.

Premium Brands (TSE:PBH) last issued its earnings results on Friday, March 15th. The company reported C$0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.13 by C($0.28). The business had revenue of C$1.55 billion during the quarter, compared to the consensus estimate of C$1.61 billion. Premium Brands had a net margin of 1.50% and a return on equity of 5.26%. As a group, equities research analysts expect that Premium Brands will post 4.8440524 EPS for the current year.

Premium Brands Increases Dividend

The firm also recently declared 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 positive change 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%.

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.