Primo Water Co. (NASDAQ:PRMW) – Barrington Research cut their FY2018 earnings per share estimates for shares of Primo Water in a research note issued to investors on Tuesday, January 8th. Barrington Research analyst M. Petusky now expects that the company will post earnings of ($1.44) per share for the year, down from their previous forecast of $0.30. Barrington Research currently has a “Buy” rating and a $20.00 price objective on the stock.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The firm had revenue of $81.80 million during the quarter, compared to analyst estimates of $83.26 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis.
Primo Water stock opened at $14.54 on Friday. Primo Water has a one year low of $11.16 and a one year high of $20.72. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.94 and a quick ratio of 0.73. The firm has a market capitalization of $574.94 million, a PE ratio of -51.93, a P/E/G ratio of 2.52 and a beta of 0.58.
Hedge funds have recently modified their holdings of the business. Cadence Capital Management LLC lifted its stake in Primo Water by 19.9% during the third quarter. Cadence Capital Management LLC now owns 171,489 shares of the company’s stock worth $3,095,000 after purchasing an additional 28,497 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Primo Water by 43.0% during the second quarter. Bank of New York Mellon Corp now owns 156,647 shares of the company’s stock worth $2,740,000 after purchasing an additional 47,114 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Primo Water by 166.3% during the second quarter. Renaissance Technologies LLC now owns 690,355 shares of the company’s stock worth $12,074,000 after purchasing an additional 431,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Primo Water by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,045,086 shares of the company’s stock worth $18,279,000 after purchasing an additional 251,899 shares during the last quarter. Finally, USA Financial Portformulas Corp bought a new stake in Primo Water during the third quarter worth about $404,000. 75.84% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Michael Cauthen sold 1,859 shares of Primo Water stock in a transaction on Monday, January 7th. The stock was sold at an average price of $14.53, for a total transaction of $27,011.27. Following the completion of the sale, the vice president now owns 5,456 shares of the company’s stock, valued at $79,275.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.50% of the stock is currently owned by company insiders.
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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