Primo Water Co. (PRMW) Expected to Announce Quarterly Sales of $73.43 Million

Wall Street analysts predict that Primo Water Co. (NASDAQ:PRMW) will announce $73.43 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Primo Water’s earnings, with the lowest sales estimate coming in at $72.50 million and the highest estimate coming in at $74.63 million. Primo Water reported sales of $68.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The company is expected to announce its next earnings results on Tuesday, March 5th.

According to Zacks, analysts expect that Primo Water will report full-year sales of $304.66 million for the current financial year, with estimates ranging from $303.70 million to $305.86 million. For the next financial year, analysts anticipate that the firm will post sales of $318.31 million, with estimates ranging from $313.60 million to $323.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Primo Water.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The firm had revenue of $81.80 million during the quarter, compared to analyst estimates of $83.26 million. During the same quarter last year, the firm earned $0.15 EPS. Primo Water’s quarterly revenue was down .5% on a year-over-year basis.



A number of equities research analysts have weighed in on PRMW shares. BidaskClub lowered Primo Water from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Barrington Research restated a “buy” rating and set a $20.00 price objective on shares of Primo Water in a research note on Wednesday, November 7th. BMO Capital Markets upgraded Primo Water from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $17.00 in a research note on Friday, November 16th. They noted that the move was a valuation call. Imperial Capital started coverage on Primo Water in a research note on Friday, November 16th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, ValuEngine lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.20.

Shares of NASDAQ PRMW opened at $14.54 on Friday. Primo Water has a fifty-two week low of $11.16 and a fifty-two week high of $20.72. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.94. The company has a market cap of $574.94 million, a price-to-earnings ratio of -51.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.58.

In other news, VP Michael Cauthen sold 1,859 shares of Primo Water stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $14.53, for a total value of $27,011.27. Following the completion of the transaction, the vice president now owns 5,456 shares in the company, valued at approximately $79,275.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Primo Water by 24.3% in the 3rd quarter. Legal & General Group Plc now owns 4,917 shares of the company’s stock worth $89,000 after acquiring an additional 962 shares in the last quarter. Vanguard Group Inc grew its position in shares of Primo Water by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 1,460,570 shares of the company’s stock worth $26,363,000 after acquiring an additional 51,372 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Primo Water by 229.7% in the 3rd quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock worth $25,000 after acquiring an additional 958 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Primo Water by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,460,570 shares of the company’s stock worth $26,363,000 after acquiring an additional 51,372 shares in the last quarter. Finally, B. Riley Financial Inc. grew its position in shares of Primo Water by 19.3% in the 3rd quarter. B. Riley Financial Inc. now owns 27,696 shares of the company’s stock worth $500,000 after acquiring an additional 4,471 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

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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