Primo Water Co. Plans — Dividend of $0.82 (NYSE:PRMW)

Primo Water Co. (NYSE:PRMW) announced a — dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.82 per share on Thursday, November 21st. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th.

Primo Water has a payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Primo Water to earn $0.84 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 38.1%.

Primo Water Trading Up 1.2 %

Shares of NYSE:PRMW opened at $26.93 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a 52-week low of $12.92 and a 52-week high of $27.30. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.89 and a beta of 1.11. The business has a 50-day moving average price of $23.72 and a 200-day moving average price of $21.82.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same quarter in the prior year, the company earned $0.22 EPS. Primo Water’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Primo Water will post 0.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.83.

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.