Ventum Cap Mkts Forecasts Weaker Earnings for Premium Brands

Premium Brands Holdings Co. (TSE:PBH) – Ventum Cap Mkts reduced their FY2024 earnings estimates for shares of Premium Brands in a research report issued to clients and investors on Thursday, November 7th. Ventum Cap Mkts analyst D. Schilling now forecasts that the company will earn $3.95 per share for the year, down from their prior estimate of $4.71. The consensus estimate for Premium Brands’ current full-year earnings is $6.04 per share. Ventum Cap Mkts also issued estimates for Premium Brands’ Q4 2024 earnings at $1.02 EPS.

Premium Brands (TSE:PBH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 earnings per share for the quarter, missing the consensus estimate 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 firm earned $1.27 EPS.

Several other equities research analysts have also commented on the company. National Bankshares upped their target price on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada cut their price target on Premium Brands from C$100.00 to C$96.00 in a report on Thursday, November 7th. TD Securities lowered their price objective on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets cut their target price on shares of Premium Brands from C$111.00 to C$94.00 in a research note on Thursday, November 7th. Finally, CIBC decreased their price target on shares of Premium Brands from C$103.00 to C$90.00 in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Premium Brands has a consensus rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Stock Performance

Shares of Premium Brands stock opened at C$79.92 on Monday. The business has a 50-day moving average price of C$90.61 and a two-hundred day moving average price of C$90.43. Premium Brands has a 1-year low of C$75.67 and a 1-year high of C$97.28. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28. The company has a market cap of C$3.55 billion, a P/E ratio of 31.46, a PEG ratio of 1.10 and a beta of 0.98.

Insider Buying and Selling at Premium Brands

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

Premium Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Premium Brands’s dividend payout ratio is currently 133.86%.

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.