Primo Water Co. (NYSE:PRMW) to Issue Quarterly Dividend of $0.09

Primo Water Co. (NYSE:PRMW) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.09 per share on Tuesday, June 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, June 7th.

Primo Water has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Primo Water to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 31.7%.

Primo Water Trading Up 1.7 %

Shares of NYSE:PRMW traded up $0.36 during trading on Friday, reaching $21.35. 1,383,519 shares of the company traded hands, compared to its average volume of 1,092,483. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.87 and a beta of 1.09. Primo Water has a 52-week low of $12.27 and a 52-week high of $23.11. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $18.10 and its 200-day moving average is $15.91.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million for the quarter, compared to analysts’ expectations of $582.93 million. As a group, analysts forecast that Primo Water will post 0.82 EPS for the current year.

Analysts Set New Price Targets

PRMW has been the subject of several research analyst reports. Raymond James downgraded Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TD Securities lowered their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.