Equities analysts expect that Primo Water Corporation (NASDAQ:PRMW) will announce sales of $77.27 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Primo Water Corporation’s earnings, with estimates ranging from $76.94 million to $77.60 million. Primo Water Corporation reported sales of $35.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 117.7%. The business is expected to announce its next earnings results on Tuesday, November 7th.
On average, analysts expect that Primo Water Corporation will report full year sales of $77.27 million for the current financial year, with estimates ranging from $284.88 million to $286.50 million. For the next year, analysts anticipate that the company will post sales of $301.17 million per share, with estimates ranging from $298.97 million to $302.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Primo Water Corporation.
Primo Water Corporation (NASDAQ:PRMW) last issued its earnings results on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.09). Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. The firm had revenue of $74.80 million during the quarter, compared to analyst estimates of $73.20 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 117.4% on a year-over-year basis.
Several research firms have recently issued reports on PRMW. B. Riley reissued a “buy” rating and set a $17.50 target price on shares of Primo Water Corporation in a report on Monday, August 7th. Zacks Investment Research raised Primo Water Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets reissued a “market perform” rating on shares of Primo Water Corporation in a report on Friday, June 9th. ValuEngine raised Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.10.
WARNING: “$77.27 Million in Sales Expected for Primo Water Corporation (PRMW) This Quarter” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2017/09/20/77-27-million-in-sales-expected-for-primo-water-corporation-prmw-this-quarter.html.
In related news, insider Billy D. Prim sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total value of $12,160,000.00. Following the sale, the insider now directly owns 1,980,927 shares of the company’s stock, valued at $24,088,072.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Malcolm Mcquilkin sold 13,714 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $11.70, for a total value of $160,453.80. Following the completion of the sale, the director now directly owns 101,246 shares in the company, valued at $1,184,578.20. The disclosure for this sale can be found here. Insiders sold 1,024,796 shares of company stock worth $12,451,886 over the last ninety days. 15.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its stake in Primo Water Corporation by 1.8% in the second quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock valued at $570,000 after buying an additional 800 shares in the last quarter. Argent Capital Management LLC acquired a new stake in Primo Water Corporation in the second quarter valued at about $1,631,000. The Manufacturers Life Insurance Company boosted its stake in Primo Water Corporation by 20.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock valued at $267,000 after buying an additional 3,625 shares in the last quarter. State Street Corp boosted its stake in Primo Water Corporation by 11.6% in the second quarter. State Street Corp now owns 386,038 shares of the company’s stock valued at $4,906,000 after buying an additional 40,107 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Primo Water Corporation by 16.5% in the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock valued at $182,000 after buying an additional 2,028 shares in the last quarter. 63.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Primo Water Corporation (NASDAQ:PRMW) traded down 0.26% during midday trading on Wednesday, hitting $11.60. 12,125 shares of the stock traded hands. The stock has a 50 day moving average of $11.92 and a 200 day moving average of $12.57. The company’s market capitalization is $346.47 million. Primo Water Corporation has a 1-year low of $10.74 and a 1-year high of $15.39.
About Primo Water Corporation
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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