Primo Water Co. (PRMW) Expected to Announce Earnings of $0.23 Per Share

Equities analysts expect that Primo Water Co. (NASDAQ:PRMW) will announce earnings per share (EPS) of $0.23 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Primo Water’s earnings, with estimates ranging from $0.20 to $0.25. Primo Water posted earnings of $0.14 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 64.3%. The firm is expected to report its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Primo Water will report full year earnings of $0.55 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $0.58. For the next year, analysts anticipate that the firm will post earnings of $0.73 per share, with EPS estimates ranging from $0.63 to $0.81. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Primo Water.

Primo Water (NASDAQ:PRMW) last announced its earnings results on Tuesday, August 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. The business had revenue of $75.80 million during the quarter, compared to the consensus estimate of $72.96 million. Primo Water had a net margin of 3.21% and a return on equity of 8.21%.

PRMW has been the subject of several analyst reports. BidaskClub upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of Primo Water from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Saturday, August 11th. B. Riley lifted their price objective on shares of Primo Water from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets lifted their price objective on shares of Primo Water from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $20.75.

Shares of PRMW stock opened at $16.57 on Monday. The stock has a market cap of $680.40 million, a P/E ratio of -59.25, a P/E/G ratio of 3.96 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.24. Primo Water has a 52 week low of $10.47 and a 52 week high of $20.72.

In other news, VP Michael Cauthen sold 1,377 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $19.56, for a total value of $26,934.12. Following the completion of the transaction, the vice president now directly owns 6,159 shares in the company, valued at approximately $120,470.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles A. Norris sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $20.00, for a total transaction of $500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 243,509 shares of company stock valued at $4,895,288 in the last quarter. Corporate insiders own 13.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Primo Water by 15.9% during the 2nd quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock valued at $463,000 after purchasing an additional 3,626 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Primo Water during the 2nd quarter valued at approximately $208,000. Allianz Asset Management GmbH grew its holdings in shares of Primo Water by 3.2% during the 1st quarter. Allianz Asset Management GmbH now owns 247,576 shares of the company’s stock valued at $2,899,000 after purchasing an additional 7,649 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of Primo Water during the 2nd quarter valued at approximately $186,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Primo Water by 20.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 63,921 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,716 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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