$0.06 EPS Expected for Primo Water Co. (NYSE:PRMW) This Quarter


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Equities research analysts forecast that Primo Water Co. (NYSE:PRMW) will post $0.06 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Primo Water’s earnings. The highest EPS estimate is $0.12 and the lowest is $0.00. Primo Water reported earnings of ($0.04) per share in the same quarter last year, which would indicate a positive year over year growth rate of 250%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that Primo Water will report full-year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.41 to $0.74. For the next year, analysts expect that the company will post earnings of $0.66 per share, with EPS estimates ranging from $0.47 to $0.85. Zacks’ EPS averages are an average based on a survey of research firms that cover Primo Water.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.07). The company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $490.49 million. Primo Water had a positive return on equity of 3.49% and a negative net margin of 5.00%.

Several equities research analysts have commented on the stock. Raymond James raised shares of Primo Water from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $18.00 to $21.00 in a report on Friday, January 8th. Scotiabank raised shares of Primo Water from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $17.00 to $18.50 in a report on Monday, March 15th. Canaccord Genuity upped their price objective on shares of Primo Water from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. TD Securities decreased their price target on Primo Water from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, February 26th. Finally, Zacks Investment Research cut Primo Water from a “hold” rating to a “strong sell” rating in a research report on Friday, March 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $17.38.

In related news, Director Jeremy S. G. Fowden sold 27,016 shares of the company’s stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $16.91, for a total value of $456,840.56. Following the transaction, the director now directly owns 1,352,358 shares in the company, valued at $22,868,373.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Harrington acquired 35,000 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was bought at an average price of $14.53 per share, for a total transaction of $508,550.00. Following the completion of the transaction, the chief executive officer now owns 319,680 shares of the company’s stock, valued at approximately $4,644,950.40. The disclosure for this purchase can be found here. 5.38% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Primo Water during the fourth quarter valued at approximately $35,014,000. JPMorgan Chase & Co. grew its position in Primo Water by 20.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,172,716 shares of the company’s stock valued at $128,149,000 after acquiring an additional 1,381,205 shares during the last quarter. Truist Financial Corp bought a new position in Primo Water during the fourth quarter valued at approximately $226,000. Jane Street Group LLC grew its position in Primo Water by 522.8% during the fourth quarter. Jane Street Group LLC now owns 14,780 shares of the company’s stock valued at $232,000 after acquiring an additional 12,407 shares during the last quarter. Finally, Tacita Capital Inc bought a new position in Primo Water during the fourth quarter valued at approximately $1,932,000. Institutional investors and hedge funds own 88.74% of the company’s stock.

NYSE PRMW traded down $0.33 during trading on Wednesday, hitting $16.59. 406,900 shares of the company’s stock traded hands, compared to its average volume of 1,626,689. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -26.33 and a beta of 1.32. Primo Water has a 12-month low of $8.81 and a 12-month high of $17.85. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.73 and a current ratio of 0.86. The business has a 50 day moving average of $15.89 and a 200-day moving average of $15.79.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 29th. Investors of record on Friday, March 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 11th.

Primo Water Company Profile

Primo Water Corporation provides home and office bottled water delivery and water filtration services in North America and Europe. It offers water dispensers, purified bottled water, and self-service refill drinking water; and coffee and tea, and sparkling water beverages from Sparkling Ice, as well as other premium water products.

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

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