Analysts Anticipate Primo Water Co. (PRMW) Will Post Quarterly Sales of $72.96 Million

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.

Get a free copy of the Zacks research report on Primo Water (PRMW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Primo Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply