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 released on Tuesday, MarketBeat.com reports. The brokerage 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 a number of other reports. CIBC decreased their price objective on shares of Premium Brands from C$102.00 to C$97.00 and set a neutral rating for the company in a research report on Monday, March 18th. BMO Capital Markets cut their target price 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. Royal Bank of Canada cut 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 research note on Monday, March 18th. Desjardins cut their target price on shares of 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. 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 research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Premium Brands currently has an average rating of Moderate Buy and an average target price of C$111.60.

Premium Brands Stock Up 1.4 %

Shares of Premium Brands stock opened at C$87.78 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.16 and a debt-to-equity ratio of 149.12. The company has a fifty day moving average price of C$89.05 and a 200 day moving average price of C$91.41. The stock has a market cap of C$3.90 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth 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 quarterly earnings data on Friday, March 15th. The company reported C$0.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.13 by C($0.28). The firm had revenue of C$1.55 billion during the quarter, compared to analysts’ expectations of C$1.61 billion. Premium Brands had a net margin of 1.50% and a return on equity of 5.26%. Equities research analysts forecast that Premium Brands will post 4.8440524 earnings per share for the current fiscal year.

Premium Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.85 per share. This is a positive change from Premium Brands’s previous quarterly dividend of $0.77. The ex-dividend date was Wednesday, March 27th. This represents a $3.40 annualized dividend and a yield of 3.87%. Premium Brands’s dividend payout ratio is 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.