Zacks: Analysts Anticipate Primo Water Co. (PRMW) Will Post Quarterly Sales of $70.00 Million

Wall Street brokerages expect Primo Water Co. (NASDAQ:PRMW) to announce sales of $70.00 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Primo Water’s earnings, with the lowest sales estimate coming in at $69.30 million and the highest estimate coming in at $70.69 million. Primo Water posted sales of $73.66 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5%. The company is expected to issue its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Primo Water will report full-year sales of $316.95 million for the current financial year, with estimates ranging from $315.00 million to $320.00 million. For the next financial year, analysts forecast that the firm will post sales of $335.06 million, with estimates ranging from $332.20 million to $337.29 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Primo Water.

PRMW has been the topic of several analyst reports. BidaskClub downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Zacks Investment Research cut Primo Water from a “hold” rating to a “sell” rating in a report on Friday, November 30th. ValuEngine upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Monday, March 11th. BMO Capital Markets upped their target price on Primo Water from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $20.00 target price on shares of Primo Water in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.20.



In other news, VP Michael Cauthen sold 1,859 shares of the business’s stock in a transaction 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 directly owns 5,456 shares of the company’s stock, valued at approximately $79,275.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Primo Water by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 22,337 shares of the company’s stock worth $313,000 after buying an additional 869 shares during the period. Legal & General Group Plc lifted its position in shares of Primo Water by 19.0% during the fourth quarter. Legal & General Group Plc now owns 5,849 shares of the company’s stock worth $82,000 after purchasing an additional 932 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Primo Water by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 363,160 shares of the company’s stock worth $5,087,000 after purchasing an additional 939 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Primo Water by 229.7% during the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock worth $25,000 after purchasing an additional 958 shares during the last quarter. Finally, Timpani Capital Management LLC lifted its position in shares of Primo Water by 2.7% during the fourth quarter. Timpani Capital Management LLC now owns 57,403 shares of the company’s stock worth $804,000 after purchasing an additional 1,486 shares during the last quarter. 80.19% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:PRMW traded down $0.43 during trading hours on Thursday, reaching $14.77. The stock had a trading volume of 296,815 shares, compared to its average volume of 417,589. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.97 and a quick ratio of 0.75. Primo Water has a 52 week low of $11.40 and a 52 week high of $20.72. The company has a market cap of $574.92 million, a price-to-earnings ratio of 43.44, a PEG ratio of 3.28 and a beta of 0.43.

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.

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

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