Brokerages forecast that Primo Water Co. (NASDAQ:PRMW) will announce earnings of ($0.28) per share for the current quarter, according to Zacks. Three analysts have issued estimates for Primo Water’s earnings. Primo Water posted earnings per share of $0.05 during the same quarter last year, which suggests a negative year over year growth rate of 660%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, May 9th.
According to Zacks, analysts expect that Primo Water will report full year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.18) to ($0.10). For the next year, analysts expect that the company will post earnings of $0.37 per share, with EPS estimates ranging from $0.34 to $0.39. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Primo Water.
Primo Water (NASDAQ:PRMW) last announced its earnings results on Wednesday, March 15th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.25. Primo Water had a return on equity of 24.69% and a net margin of 4.34%. The business earned $40.40 million during the quarter, compared to analysts’ expectations of $37.85 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis.
PRMW has been the subject of a number of research analyst reports. Zacks Investment Research raised Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, December 28th. B. Riley reissued a “buy” rating and issued a $16.50 target price on shares of Primo Water in a research note on Tuesday, January 10th. Lake Street Capital reissued a “buy” rating and issued a $20.00 target price (up from $16.50) on shares of Primo Water in a research note on Thursday, March 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.50 target price (up from $15.00) on shares of Primo Water in a research note on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Primo Water currently has an average rating of “Buy” and a consensus target price of $17.00.
In other news, insider Camden Partners Strategic Fund sold 13,249 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $13.85, for a total transaction of $183,498.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PRMW. SG Capital Management LLC boosted its position in Primo Water by 156.4% in the third quarter. SG Capital Management LLC now owns 525,700 shares of the company’s stock valued at $6,377,000 after buying an additional 320,647 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Primo Water during the fourth quarter valued at $2,941,000. Cortina Asset Management LLC boosted its position in Primo Water by 91.8% in the fourth quarter. Cortina Asset Management LLC now owns 432,436 shares of the company’s stock valued at $5,310,000 after buying an additional 206,951 shares in the last quarter. Axiom International Investors LLC DE boosted its position in Primo Water by 128.1% in the fourth quarter. Axiom International Investors LLC DE now owns 335,319 shares of the company’s stock valued at $4,118,000 after buying an additional 188,304 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Primo Water by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock valued at $6,988,000 after buying an additional 130,127 shares in the last quarter. 56.78% of the stock is owned by institutional investors.
Shares of Primo Water (NASDAQ:PRMW) traded down 1.02% on Tuesday, reaching $11.59. The company had a trading volume of 212,047 shares. Primo Water has a one year low of $10.15 and a one year high of $15.39. The company has a 50-day moving average price of $13.45 and a 200-day moving average price of $13.22. The firm’s market cap is $342.75 million.
About Primo Water
Primo Water Corporation is a provider of 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. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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