Premium Brands Holdings Co. (TSE:PBH) Receives C$111.60 Average Price Target from Brokerages

Premium Brands Holdings Co. (TSE:PBH) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$111.70.

A number of research analysts recently commented on PBH shares. TD Securities lowered their price target on shares of Premium Brands from C$130.00 to C$120.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Stifel Nicolaus lowered their target price on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Desjardins reduced their price target on 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. BMO Capital Markets lowered their price objective on Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Finally, CIBC reduced 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 report on Monday, March 18th.

Premium Brands Stock Down 0.7 %

PBH stock opened at C$90.20 on Wednesday. The business’s 50 day simple moving average is C$88.76 and its 200 day simple moving average is C$91.12. Premium Brands has a 1-year low of C$84.66 and a 1-year high of C$113.60. The firm has a market capitalization of C$4.01 billion, a PE ratio of 42.75, a PEG ratio of 1.10 and a beta of 1.01. The company has a current ratio of 2.08, a quick ratio of 1.16 and a debt-to-equity ratio of 149.12.

Premium Brands (TSE:PBH) last released its quarterly earnings data on Friday, March 15th. The company reported C$0.85 EPS for the quarter, missing the consensus estimate of C$1.13 by C($0.28). The company had revenue of C$1.55 billion during the quarter, compared to analyst estimates of C$1.61 billion. Premium Brands had a net margin of 1.50% and a return on equity of 5.26%. As a group, research analysts anticipate that Premium Brands will post 4.8440524 EPS for the current year.

Premium Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. Premium Brands’s payout ratio is 161.14%.

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.