Equities research analysts predict that Primo Water Co. (NASDAQ:PRMW) will announce earnings per share (EPS) of ($0.28) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Primo Water’s earnings. Primo Water posted earnings per share of $0.05 during the same quarter last year, which suggests a negative year-over-year growth rate of 660%. The firm is expected to issue its next earnings results after the market closes on Tuesday, May 9th.
According to Zacks, analysts expect that Primo Water will report full-year earnings of ($0.14) per share for the current fiscal year, with EPS estimates ranging from ($0.18) to ($0.10). For the next year, analysts anticipate that the firm will report earnings of $0.37 per share, with EPS estimates ranging from $0.34 to $0.39. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Primo Water.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Wednesday, March 15th. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.25. Primo Water had a return on equity of 24.69% and a net margin of 4.34%. The firm had revenue of $40.40 million during the quarter, compared to analyst estimates of $37.85 million. During the same period last year, the company posted $0.04 EPS. The business’s quarterly revenue was up 28.3% on a year-over-year basis.
PRMW has been the subject of a number of analyst reports. B. Riley reiterated a “buy” rating and set a $17.50 target price on shares of Primo Water in a report on Wednesday, March 22nd. Zacks Investment Research upgraded shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, January 13th. Finally, Lake Street Capital reiterated a “buy” rating and set a $20.00 target price (up from $16.50) on shares of Primo Water in a report on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $17.00.
Primo Water (NASDAQ:PRMW) traded up 2.28% on Tuesday, hitting $12.58. The stock had a trading volume of 137,699 shares. The company’s market cap is $372.03 million. Primo Water has a 52-week low of $10.25 and a 52-week high of $15.39. The stock’s 50-day moving average is $12.68 and its 200-day moving average is $13.16.
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In related news, insider Camden Partners Strategic Fund sold 13,249 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $13.85, for a total value of $183,498.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.70% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. bought a new position in Primo Water during the first quarter worth about $5,373,000. SG Capital Management LLC increased its position in Primo Water by 156.4% in the third quarter. SG Capital Management LLC now owns 525,700 shares of the company’s stock worth $6,377,000 after buying an additional 320,647 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Primo Water during the fourth quarter worth about $2,941,000. Cortina Asset Management LLC increased its position in Primo Water by 91.8% in the fourth quarter. Cortina Asset Management LLC now owns 432,436 shares of the company’s stock worth $5,310,000 after buying an additional 206,951 shares during the last quarter. Finally, Axiom International Investors LLC DE increased its position in Primo Water by 128.1% in the fourth quarter. Axiom International Investors LLC DE now owns 335,319 shares of the company’s stock worth $4,118,000 after buying an additional 188,304 shares during the last quarter. 56.78% of the stock is owned by institutional investors.
About Primo Water
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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