BMO Capital Markets Lowers Premium Brands (TSE:PBH) Price Target to C$94.00

Premium Brands (TSE:PBH) had its price objective lowered by BMO Capital Markets from C$111.00 to C$94.00 in a research note released on Thursday,BayStreet.CA reports.

Several other brokerages also recently issued reports on PBH. National Bankshares increased their price objective on Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. TD Securities boosted their target price on Premium Brands from C$125.00 to C$129.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their price target on Premium Brands from C$101.00 to C$100.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Price Performance

PBH stock opened at C$76.55 on Thursday. Premium Brands has a one year low of C$75.67 and a one year high of C$97.28. The firm has a 50-day moving average of C$90.94 and a two-hundred day moving average of C$90.55. The firm has a market capitalization of C$3.40 billion, a PE ratio of 30.14, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28.

Premium Brands (TSE:PBH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 EPS for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a return on equity of 6.43% and a net margin of 1.78%. During the same quarter last year, the business posted $1.27 earnings per share. On average, analysts forecast that Premium Brands will post 6.039823 earnings per share for the current year.

Premium Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 4.44%. Premium Brands’s dividend payout ratio is presently 133.86%.

Insider Buying and Selling at Premium Brands

In other Premium Brands news, Director Johnny Ciampi acquired 3,500 shares of Premium Brands stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of C$77.02 per share, with a total value of C$269,570.00. In related news, Senior Officer William Dion Kalutycz sold 7,000 shares of Premium Brands stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total transaction of C$604,100.00. Also, Director Johnny Ciampi purchased 3,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of C$77.02 per share, with a total value of C$269,570.00. Insiders own 2.01% of the company’s stock.

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.