National Bank Financial reiterated their outperform rating on shares of Premium Brands (TSE:PBH) in a report published on Friday. National Bank Financial currently has a C$95.00 price target on the stock. National Bank Financial also issued estimates for Premium Brands’ Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $1.44 EPS, Q3 2019 earnings at $1.24 EPS and Q4 2019 earnings at $1.34 EPS.
Other equities research analysts have also recently issued research reports about the stock. TD Securities cut shares of Premium Brands from an action list buy rating to a buy rating and reduced their target price for the company from C$145.00 to C$95.00 in a research note on Wednesday, November 14th. BMO Capital Markets reduced their target price on shares of Premium Brands from C$137.00 to C$92.00 and set an outperform rating for the company in a research note on Wednesday, November 14th. Canaccord Genuity upgraded shares of Premium Brands from a hold rating to a buy rating and set a C$110.00 target price for the company in a research note on Tuesday, November 6th. CIBC cut shares of Premium Brands from an outperform rating to a neutral rating and reduced their target price for the company from C$126.00 to C$82.00 in a research note on Monday, November 19th. Finally, Royal Bank of Canada reduced their target price on shares of Premium Brands from C$133.00 to C$126.00 and set an outperform rating for the company in a research note on Monday, November 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Premium Brands currently has a consensus rating of Buy and an average price target of C$101.29.
Shares of TSE:PBH opened at C$76.29 on Friday. Premium Brands has a 52-week low of C$66.99 and a 52-week high of C$122.77. The company has a current ratio of 1.92, a quick ratio of 0.95 and a debt-to-equity ratio of 136.58.
Premium Brands (TSE:PBH) last released its earnings results on Tuesday, November 13th. The company reported C$0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.14 by C($0.20). The company had revenue of C$835.50 million for the quarter, compared to analyst estimates of C$835.17 million. As a group, sell-side analysts anticipate that Premium Brands will post 4.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Tuesday, January 15th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, December 27th. Premium Brands’s payout ratio is presently 60.02%.
In related news, insider Douglas Owen Goss bought 1,000 shares of Premium Brands stock in a transaction that occurred on Friday, November 16th. The stock was acquired at an average price of C$69.23 per share, for a total transaction of C$69,230.00.
About Premium Brands
Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle, entres, panini, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.
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