Primo Water Co. Forecasted to Post Q1 2019 Earnings of $0.08 Per Share (PRMW)

Primo Water Co. (NASDAQ:PRMW) – B. Riley issued their Q1 2019 EPS estimates for Primo Water in a report issued on Wednesday, November 7th. B. Riley analyst K. Anderson expects that the company will post earnings of $0.08 per share for the quarter. B. Riley currently has a “Buy” rating and a $19.00 price target on the stock. B. Riley also issued estimates for Primo Water’s Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.24 EPS and Q4 2019 earnings at $0.14 EPS.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.19%. The company had revenue of $81.80 million during the quarter, compared to the consensus estimate of $83.26 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis.

Several other brokerages have also issued reports on PRMW. Zacks Investment Research lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets increased their target price 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. BidaskClub raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Finally, Barrington Research increased their target price on shares of Primo Water from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.50.

Shares of Primo Water stock opened at $14.38 on Friday. Primo Water has a 1-year low of $11.16 and a 1-year high of $20.72. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.24. The company has a market cap of $669.85 million, a PE ratio of -51.36, a PEG ratio of 3.90 and a beta of 0.61.

Several hedge funds have recently made changes to their positions in the company. Eagle Asset Management Inc. raised its holdings in shares of Primo Water by 1.4% in the third quarter. Eagle Asset Management Inc. now owns 362,221 shares of the company’s stock valued at $6,538,000 after purchasing an additional 4,919 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Primo Water by 1,225.1% in the third quarter. JPMorgan Chase & Co. now owns 1,223,762 shares of the company’s stock valued at $22,089,000 after acquiring an additional 1,131,412 shares during the period. SG Americas Securities LLC boosted its position in shares of Primo Water by 65.5% in the third quarter. SG Americas Securities LLC now owns 151,942 shares of the company’s stock valued at $2,743,000 after acquiring an additional 60,116 shares during the period. Bessemer Group Inc. boosted its position in shares of Primo Water by 1,453.3% in the third quarter. Bessemer Group Inc. now owns 23,300 shares of the company’s stock valued at $421,000 after acquiring an additional 21,800 shares during the period. Finally, IFG Advisory LLC bought a new position in shares of Primo Water in the third quarter valued at approximately $225,000. Institutional investors own 74.07% of the company’s stock.

In other Primo Water news, Director Charles A. Norris sold 148,678 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.18, for a total value of $3,000,322.04. Following the transaction, the director now directly owns 4,282 shares of the company’s stock, valued at $86,410.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Cauthen sold 1,377 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $19.56, for a total transaction of $26,934.12. Following the completion of the transaction, the vice president now directly owns 6,159 shares in the company, valued at $120,470.04. The disclosure for this sale can be found here. Insiders sold 243,509 shares of company stock worth $4,895,288 over the last ninety days. Insiders own 13.50% of the company’s stock.

About Primo Water

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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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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