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.
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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