Brokerages forecast that Primo Water Co. (NASDAQ:PRMW) will announce $77.89 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Primo Water’s earnings. The lowest sales estimate is $77.30 million and the highest is $78.96 million. Primo Water reported sales of $75.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, August 5th.
According to Zacks, analysts expect that Primo Water will report full year sales of $317.05 million for the current year, with estimates ranging from $315.11 million to $318.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $333.93 million, with estimates ranging from $328.80 million to $337.29 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Primo Water.
Primo Water (NASDAQ:PRMW) last announced its earnings results on Tuesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $70.05 million for the quarter, compared to analyst estimates of $70.00 million. Primo Water had a positive return on equity of 11.15% and a negative net margin of 19.21%.
Several research firms recently weighed in on PRMW. Imperial Capital reissued an “outperform” rating and set a $18.00 price target (down from $20.00) on shares of Primo Water in a research report on Tuesday, June 18th. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Barrington Research set a $18.00 price target on Primo Water and gave the company a “buy” rating in a research report on Wednesday, June 26th. Northland Securities reissued a “buy” rating and set a $19.00 price target on shares of Primo Water in a research report on Tuesday, June 25th. Finally, ValuEngine lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Primo Water currently has an average rating of “Buy” and a consensus price target of $19.33.
Large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Primo Water by 58.6% in the 4th quarter. Rhumbline Advisers now owns 42,659 shares of the company’s stock worth $598,000 after buying an additional 15,768 shares during the period. BlackRock Inc. grew its holdings in Primo Water by 10.5% during the 4th quarter. BlackRock Inc. now owns 2,444,917 shares of the company’s stock worth $34,253,000 after acquiring an additional 233,001 shares in the last quarter. Northern Trust Corp grew its holdings in Primo Water by 1.6% during the 4th quarter. Northern Trust Corp now owns 398,776 shares of the company’s stock worth $5,586,000 after acquiring an additional 6,257 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Primo Water during the 4th quarter worth about $92,000. Finally, Dimensional Fund Advisors LP grew its holdings in Primo Water by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,257,632 shares of the company’s stock worth $17,619,000 after acquiring an additional 44,543 shares in the last quarter. 84.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Primo Water stock traded up $0.15 on Friday, reaching $13.76. 360,762 shares of the company were exchanged, compared to its average volume of 262,403. The business has a fifty day simple moving average of $12.66. The stock has a market cap of $537.33 million, a price-to-earnings ratio of 40.47, a price-to-earnings-growth ratio of 3.19 and a beta of 0.71. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.99 and a quick ratio of 0.70. Primo Water has a fifty-two week low of $10.70 and a fifty-two week high of $20.72.
About Primo Water
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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