Premium Brands (TSE:PBH) Stock Price Passes Below 200 Day Moving Average of $129.02

Premium Brands Holdings Co. (TSE:PBH)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$129.02 and traded as low as C$127.05. Premium Brands shares last traded at C$127.18, with a volume of 29,756 shares changing hands.

Several equities research analysts recently issued reports on PBH shares. TD Securities lifted their price target on shares of Premium Brands from C$150.00 to C$160.00 and gave the company a “buy” rating in a report on Friday, November 5th. BMO Capital Markets lifted their price target on shares of Premium Brands from C$149.00 to C$156.00 and gave the company a “na” rating in a report on Friday, November 5th. Cormark boosted their target price on shares of Premium Brands from C$155.00 to C$160.00 in a report on Tuesday, November 9th. Royal Bank of Canada boosted their target price on shares of Premium Brands from C$123.00 to C$126.00 and gave the stock a “sector perform” rating in a report on Friday, November 5th. Finally, CIBC boosted their target price on shares of Premium Brands from C$129.00 to C$135.00 and gave the stock a “neutral” rating in a report on Monday, November 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$148.00.

The stock has a market cap of C$5.53 billion and a price-to-earnings ratio of 46.37. The company has a current ratio of 1.90, a quick ratio of 0.92 and a debt-to-equity ratio of 109.58. The stock’s 50-day moving average price is C$132.83 and its 200-day moving average price is C$129.02.

Premium Brands (TSE:PBH) last issued its quarterly earnings results on Thursday, November 4th. The company reported C$1.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.36 by C($0.03). The firm had revenue of C$1.34 billion for the quarter, compared to analysts’ expectations of C$1.32 billion. As a group, analysts predict that Premium Brands Holdings Co. will post 5.6000001 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Friday, December 31st will be given a dividend of $0.635 per share. This represents a $2.54 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 30th. This is an increase from Premium Brands’s previous quarterly dividend of $0.58. Premium Brands’s payout ratio is presently 90.50%.

About Premium Brands (TSE:PBH)

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 meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entrees, panini, wraps, subs, hamburgers, burgers, muffins, breads, pastas, and baking and sushi products, as well as processed meat products.

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