FY2018 Earnings Estimate for Primo Water Co. Issued By Barrington Research (PRMW)

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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.

A number of other equities analysts have also commented on the company. BidaskClub lowered Primo Water from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. BMO Capital Markets raised Primo Water from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $15.00 to $17.00 in a research note on Friday, November 16th. They noted that the move was a valuation call. Imperial Capital started coverage on Primo Water in a research note on Friday, November 16th. They set an “outperform” rating and a $18.00 price objective for the company. ValuEngine raised Primo Water from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. Finally, B. Riley dropped their price objective on Primo Water from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.20.

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.

Read More: How To Calculate Debt-to-Equity Ratio

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