Equities research analysts forecast that Primo Water Co. (NASDAQ:PRMW) will report $72.96 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Primo Water’s earnings, with the highest sales estimate coming in at $73.40 million and the lowest estimate coming in at $72.00 million. Primo Water reported sales of $74.82 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.5%. The firm is scheduled to announce its next earnings report on Tuesday, August 14th.
According to Zacks, analysts expect that Primo Water will report full year sales of $305.00 million for the current fiscal year, with estimates ranging from $304.39 million to $305.53 million. For the next financial year, analysts expect that the business will post sales of $321.81 million per share, with estimates ranging from $320.90 million to $323.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Primo Water.
Primo Water (NASDAQ:PRMW) last posted its earnings results on Tuesday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.07. The company had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $67.00 million. Primo Water had a return on equity of 2.24% and a net margin of 2.25%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share.
A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on Primo Water from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Primo Water from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 16th. BidaskClub cut Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 19th. ValuEngine raised Primo Water from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets lifted their price objective on Primo Water from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 24th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $18.50.
In related news, CFO David J. Mills sold 18,540 shares of the business’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $14.06, for a total transaction of $260,672.40. Following the completion of the transaction, the chief financial officer now directly owns 79,624 shares of the company’s stock, valued at approximately $1,119,513.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David J. Mills sold 2,336 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $15.00, for a total value of $35,040.00. Following the transaction, the chief financial officer now directly owns 64,682 shares of the company’s stock, valued at $970,230. The disclosure for this sale can be found here. Insiders sold 27,618 shares of company stock valued at $387,780 over the last ninety days. Insiders own 13.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in Primo Water by 501.6% during the 4th quarter. Deutsche Bank AG now owns 166,834 shares of the company’s stock worth $2,096,000 after purchasing an additional 139,104 shares in the last quarter. Legion Partners Asset Management LLC grew its stake in Primo Water by 34.9% during the 1st quarter. Legion Partners Asset Management LLC now owns 812,774 shares of the company’s stock worth $9,518,000 after purchasing an additional 210,087 shares in the last quarter. North Fourth Asset Management LP acquired a new position in Primo Water during the 4th quarter worth $4,292,000. Eagle Asset Management Inc. grew its stake in Primo Water by 8.8% during the 1st quarter. Eagle Asset Management Inc. now owns 418,155 shares of the company’s stock worth $4,896,000 after purchasing an additional 33,965 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Primo Water by 224.6% during the 4th quarter. Millennium Management LLC now owns 891,838 shares of the company’s stock worth $11,210,000 after purchasing an additional 617,077 shares in the last quarter. 70.22% of the stock is owned by hedge funds and other institutional investors.
PRMW stock opened at $17.51 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.13. The firm has a market cap of $550.58 million, a price-to-earnings ratio of 352.80, a price-to-earnings-growth ratio of 3.94 and a beta of -0.17. Primo Water has a 52-week low of $10.47 and a 52-week high of $19.23.
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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