Wall Street analysts expect that Primo Water Co. (NASDAQ:PRMW) will announce $70.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Primo Water’s earnings. The highest sales estimate is $70.69 million and the lowest is $69.30 million. Primo Water reported sales of $73.66 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5%. The business is expected to announce its next quarterly earnings report after the market closes on Tuesday, May 7th.
According to Zacks, analysts expect that Primo Water will report full year sales of $316.95 million for the current financial year, with estimates ranging from $315.00 million to $320.00 million. For the next financial year, analysts expect that the company will report sales of $335.06 million, with estimates ranging from $332.20 million to $337.29 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Primo Water.
Primo Water (NASDAQ:PRMW) last announced its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $70.88 million during the quarter, compared to the consensus estimate of $72.51 million. Primo Water had a negative net margin of 18.16% and a positive return on equity of 12.71%.
Shares of PRMW stock traded up $0.22 on Friday, hitting $15.46. The stock had a trading volume of 147,310 shares, compared to its average volume of 271,339. The company has a market capitalization of $602.86 million, a PE ratio of 45.47, a price-to-earnings-growth ratio of 3.42 and a beta of 0.44. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.89. Primo Water has a 52-week low of $12.05 and a 52-week high of $20.72.
In related news, VP Michael Cauthen sold 4,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.32, for a total value of $61,280.00. Following the sale, the vice president now directly owns 10,579 shares of the company’s stock, valued at $162,070.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PRMW. JPMorgan Chase & Co. raised its holdings in 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 in the last quarter. Nuveen Asset Management LLC raised its holdings in Primo Water by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,001,988 shares of the company’s stock valued at $28,048,000 after acquiring an additional 690,521 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Primo Water by 75.9% in the third quarter. Renaissance Technologies LLC now owns 1,214,491 shares of the company’s stock valued at $21,922,000 after acquiring an additional 524,136 shares in the last quarter. BlackRock Inc. raised its holdings in Primo Water by 22.5% in the third quarter. BlackRock Inc. now owns 2,211,916 shares of the company’s stock valued at $39,926,000 after acquiring an additional 406,920 shares in the last quarter. Finally, Standard Life Aberdeen plc acquired a new stake in Primo Water in the fourth quarter valued at $5,335,000. 80.04% of the stock is currently owned by hedge funds and other institutional investors.
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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