Primo Water Co. (NASDAQ:PRMW) Expected to Announce Earnings of $0.04 Per Share

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Wall Street analysts expect Primo Water Co. (NASDAQ:PRMW) to announce $0.04 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Primo Water’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.05. Primo Water reported earnings per share of $0.07 during the same quarter last year, which indicates a negative year-over-year growth rate of 42.9%. The company is scheduled to report its next earnings report on Tuesday, March 3rd.

According to Zacks, analysts expect that Primo Water will report full year earnings of $0.24 per share for the current year, with EPS estimates ranging from $0.22 to $0.25. For the next financial year, analysts expect that the firm will report earnings of $0.36 per share, with EPS estimates ranging from $0.32 to $0.41. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Primo Water.

Primo Water (NASDAQ:PRMW) last issued its earnings results on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). Primo Water had a return on equity of 7.11% and a net margin of 1.29%. The company had revenue of $86.97 million during the quarter, compared to analysts’ expectations of $84.78 million.

PRMW has been the subject of a number of analyst reports. Imperial Capital decreased their price target on Primo Water from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barrington Research reiterated a “buy” rating and set a $15.00 price objective on shares of Primo Water in a research note on Wednesday, November 6th. Northland Securities started coverage on shares of Primo Water in a research report on Friday, November 15th. They set a “buy” rating and a $16.00 target price on the stock. B. Riley restated a “buy” rating and issued a $18.00 target price on shares of Primo Water in a research note on Friday, September 6th. Finally, ValuEngine lowered shares of Primo Water from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Primo Water currently has an average rating of “Hold” and an average target price of $16.17.

Shares of NASDAQ:PRMW traded up $0.21 during mid-day trading on Tuesday, hitting $10.49. 336,837 shares of the company traded hands, compared to its average volume of 294,559. The firm’s 50 day simple moving average is $10.96 and its 200 day simple moving average is $12.17. The firm has a market cap of $411.38 million, a P/E ratio of 30.84, a PEG ratio of 7.08 and a beta of 0.71. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.92. Primo Water has a 52-week low of $9.54 and a 52-week high of $16.35.

A number of hedge funds have recently bought and sold shares of PRMW. First Trust Advisors LP raised its position in shares of Primo Water by 52.1% in the 3rd quarter. First Trust Advisors LP now owns 466,316 shares of the company’s stock valued at $5,726,000 after purchasing an additional 159,825 shares in the last quarter. Heartland Advisors Inc. bought a new stake in shares of Primo Water in the second quarter worth $6,683,000. Russell Investments Group Ltd. raised its holdings in Primo Water by 228.6% in the third quarter. Russell Investments Group Ltd. now owns 428,050 shares of the company’s stock valued at $5,257,000 after acquiring an additional 297,766 shares in the last quarter. BlackRock Inc. raised its holdings in Primo Water by 5.1% in the second quarter. BlackRock Inc. now owns 2,396,335 shares of the company’s stock valued at $29,475,000 after acquiring an additional 117,124 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Primo Water during the 2nd quarter valued at $35,000. Institutional investors own 85.68% 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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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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