Premium Brands Holdings Co. Forecasts Increased Earnings for FY2024

Premium Brands Holdings Co. (TSE:PBH – Free Report) has seen a positive shift in earnings projections for the fiscal year 2024, according to analysts from National Bank Financial. In a research note released on February 26, analyst V. Shreedhar raised the earnings per share (EPS) estimate from C$3.95 to C$3.98, reflecting an optimistic outlook for the company’s performance.

The current consensus among analysts for Premium Brands' total earnings for the full year is C$6.04 per share, indicating a strong expectation for financial results. National Bank Financial has also projected earnings for the upcoming quarters, estimating Q4 2024 earnings at C$1.06 EPS, Q4 2025 earnings at C$1.40 EPS, and FY2026 earnings at C$6.18 EPS.

Analyst Ratings and Price Targets

Premium Brands has attracted attention from various research firms, resulting in updated price targets. Stifel Nicolaus downgraded their price objective from C$106.00 to C$101.00, while TD Securities reduced their target from C$129.00 to C$120.00 and maintained a “buy” rating. In addition, Raymond James set an objective of C$100.00 with an “outperform” rating, and BMO Capital Markets significantly lowered their price objective from C$111.00 to C$94.00. National Bankshares has also cut their target price from C$99.00 to C$96.00 and categorized the stock as “sector perform.” Overall, three analysts have recommended holding the stock, while five have issued buy ratings. MarketBeat reports a consensus rating of “Moderate Buy” for Premium Brands, with a price target averaging C$101.67.

Current Stock Performance

The stock for Premium Brands recently opened at C$76.59. Their fifty-day moving average stands at C$78.35, with a two-hundred day moving average at C$83.92. The company's market capitalization is C$3.41 billion, showing a price-to-earnings (P/E) ratio of 34.09, a P/E/G ratio of 1.10, and a beta of 0.98. Financial ratios reveal a debt-to-equity ratio of 163.00, a current ratio of 1.51, and a quick ratio of 1.16. Premium Brands has experienced a 52-week range, with a low of C$74.00 and a high of C$97.10, showing some volatility in its stock price over the past year.

Company Overview

Premium Brands Holdings Corporation operates primarily in Canada and the United States, focusing on the manufacture and distribution of food products. The company's operations are divided into two segments: Specialty Foods and Premium Food Distribution. Their product offerings include a wide range of food products like processed meats, deli items, snacks, and various prepared meals, catering to diverse consumer needs.

premium, brands, earnings