Premium Brands (PBH) Hits New 1-Year Low on Analyst Downgrade
Shares of Premium Brands Holdings Corp (TSE:PBH) reached a new 52-week low on Monday after Royal Bank of Canada lowered their price target on the stock from C$133.00 to C$126.00. Royal Bank of Canada currently has an outperform rating on the stock. Premium Brands traded as low as C$85.39 and last traded at C$85.30, with a volume of 59071 shares. The stock had previously closed at C$87.57.
PBH has been the topic of a number of other research reports. Canaccord Genuity raised shares of Premium Brands from a “hold” rating to a “buy” rating and set a C$110.00 target price on the stock in a report on Tuesday, November 6th. BMO Capital Markets decreased their target price on shares of Premium Brands from C$138.00 to C$137.00 in a report on Tuesday, August 14th. Finally, Desjardins reaffirmed a “buy” rating on shares of Premium Brands in a report on Wednesday, August 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$127.25.
In related news, Director John Zaplatynsky sold 458 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of C$97.98, for a total transaction of C$44,874.84. Also, Director Kenneth Propp sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of C$98.19, for a total transaction of C$216,018.00.
Premium Brands (TSE:PBH) last released its quarterly earnings results on Monday, August 13th. The company reported C$1.10 EPS for the quarter, missing the Zacks’ consensus estimate of C$1.14 by C($0.04). The business had revenue of C$761.50 million for the quarter, compared to analyst estimates of C$754.97 million. Equities research analysts anticipate that Premium Brands Holdings Corp will post 5.34000044987675 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 15th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, September 27th. This is a boost from Premium Brands’s previous quarterly dividend of $0.42. Premium Brands’s payout ratio is currently 66.74%.
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Premium Brands Company Profile (TSE:PBH)
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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