Wall Street analysts expect Primo Water Co. (NASDAQ:PRMW) to post earnings of ($0.06) per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Primo Water’s earnings. Primo Water reported earnings of ($0.37) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 83.8%. The business is expected to issue its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Primo Water will report full-year earnings of $0.22 per share for the current year, with EPS estimates ranging from $0.18 to $0.24. For the next fiscal year, analysts anticipate that the business will report earnings of $0.40 per share, with EPS estimates ranging from $0.38 to $0.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Primo Water.
A number of research analysts have weighed in on PRMW shares. B. Riley set a $18.00 price objective on Primo Water and gave the company a “buy” rating in a report on Monday, March 5th. Barrington Research reiterated a “buy” rating and set a $20.00 price target on shares of Primo Water in a report on Friday. BidaskClub upgraded Primo Water from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine upgraded Primo Water from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, Zacks Investment Research lowered Primo Water from a “hold” rating to a “sell” rating in a report on Friday, March 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.33.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC raised its holdings in shares of Primo Water by 3.9% during the 4th quarter. William Blair Investment Management LLC now owns 917,727 shares of the company’s stock worth $11,536,000 after acquiring an additional 34,460 shares during the period. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 617,077 shares during the period. Elk Creek Partners LLC raised its holdings in shares of Primo Water by 22.8% during the 3rd quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock worth $9,025,000 after acquiring an additional 141,586 shares during the period. Legion Partners Asset Management LLC purchased a new position in shares of Primo Water during the 4th quarter worth $7,576,000. Finally, Eagle Asset Management Inc. raised its holdings in shares of Primo Water by 10.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 493,996 shares of the company’s stock worth $5,641,000 after acquiring an additional 46,804 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.
PRMW stock traded up $0.01 during midday trading on Monday, reaching $12.20. The stock had a trading volume of 100,643 shares, compared to its average volume of 180,012. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market capitalization of $377.45, a P/E ratio of -43.57, a PEG ratio of 4.69 and a beta of -0.13. Primo Water has a 52-week low of $10.47 and a 52-week high of $13.86.
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About Primo Water
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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