Premium Brands (TSE:PBH) Earns Buy Rating from Pi Financial

Premium Brands (TSE:PBH - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Pi Financial in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a C$112.00 price objective on the stock. Pi Financial's target price suggests a potential upside of 30.89% from the company's previous close. Pi Financial also issued estimates for Premium Brands' Q2 2024 earnings at $1.58 EPS, Q3 2024 earnings at $1.65 EPS and Q4 2024 earnings at $1.32 EPS.

Other equities research analysts have also issued reports about the company. BMO Capital Markets cut their price objective on Premium Brands from C$117.00 to C$115.00 and set an "outperform" rating for the company in a research note on Monday, March 18th. Royal Bank of Canada reduced their price objective on shares of Premium Brands from C$103.00 to C$99.00 and set a "sector perform" rating on the stock in a report on Monday, March 18th. Stifel Nicolaus lowered their target price on shares of Premium Brands from C$108.00 to C$104.00 and set a "buy" rating for the company in a research note on Monday, March 18th. Desjardins lowered their target price on shares of Premium Brands from C$110.00 to C$105.00 and set a "buy" rating for the company in a research note on Monday, March 18th. Finally, CIBC lowered their target price on shares of Premium Brands from C$102.00 to C$97.00 and set a "neutral" rating for the company in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$111.60.

Premium Brands Stock Performance

Shares of PBH stock traded up C$0.22 on Tuesday, hitting C$85.57. The company had a trading volume of 62,401 shares, compared to its average volume of 50,049. The firm has a market cap of C$3.80 billion, a P/E ratio of 40.55, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a 50-day moving average price of C$89.41 and a 200-day moving average price of C$91.53. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. Premium Brands has a twelve month low of C$84.66 and a twelve month high of C$113.60.

Premium Brands (TSE:PBH - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The company reported C$0.85 earnings per share for the quarter, missing the consensus estimate of C$1.13 by C($0.28). Premium Brands had a net margin of 1.50% and a return on equity of 5.26%. The business had revenue of C$1.55 billion during the quarter, compared to analysts' expectations of C$1.61 billion. As a group, equities research analysts predict that Premium Brands will post 4.8440524 earnings per share for the current fiscal year.

Premium Brands Company Profile

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.