Premium Brands (TSE:PBH) Hits New 52-Week Low - Here's What Happened

Key Points

• Premium Brands shares hit a new 52-week low, trading as low as C$80.90 and last changing hands at C$81.38, down sharply from the prior close of C$94.84.
• Despite the sell-off, analyst sentiment remains positive: 11 analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of C$118.62.
• The company reported quarterly revenue of C$2.38 billion and earnings of C$1.53 per share, but profitability was modest, with a 0.52% net margin and 2.21% return on equity; its debt-to-equity ratio stood at 163.05.

Premium Brands Holdings Co. (TSE:PBH - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as C$80.90 and last traded at C$81.38, with a volume of 329644 shares trading hands. The stock had previously closed at C$94.84.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotia upped their target price on Premium Brands from C$100.00 to C$110.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 8th. Royal Bank Of Canada boosted their price objective on shares of Premium Brands from C$129.00 to C$131.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price objective on shares of Premium Brands from C$110.00 to C$115.00 in a research note on Friday, May 8th. Stifel Nicolaus set a C$117.00 price target on shares of Premium Brands and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Ventum Financial set a C$124.00 target price on Premium Brands and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Premium Brands presently has an average rating of "Moderate Buy" and an average target price of C$118.62.

Premium Brands Stock Down 15.2%

The company has a debt-to-equity ratio of 163.05, a current ratio of 1.28 and a quick ratio of 1.16. The stock has a 50 day simple moving average of C$88.60 and a 200-day simple moving average of C$91.02. The firm has a market cap of C$4.18 billion, a PE ratio of 89.41, a PEG ratio of 1.10 and a beta of 0.90.

Premium Brands (TSE:PBH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$1.53 earnings per share for the quarter. Premium Brands had a net margin of 0.52% and a return on equity of 2.21%. The company had revenue of C$2.38 billion during the quarter. Sell-side analysts predict that Premium Brands Holdings Co. will post 6.039823 EPS for the current fiscal year.

Premium Brands Company Profile

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company's business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company's distribution and wholesale businesses; the Corporate segment includes the company's head office activities along with its finance and information systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source