Analysts Expect Primo Water Corporation (PRMW) Will Post Quarterly Sales of $77.60 Million
Brokerages forecast that Primo Water Corporation (NASDAQ:PRMW) will report $77.60 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Primo Water Corporation’s earnings, with estimates ranging from $76.94 million to $78.27 million. Primo Water Corporation reported sales of $35.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 118.6%. The business is scheduled to report its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Primo Water Corporation will report full year sales of $77.60 million for the current year, with estimates ranging from $285.05 million to $286.50 million. For the next year, analysts anticipate that the company will post sales of $301.35 million per share, with estimates ranging from $299.51 million to $302.60 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Primo Water Corporation.
Primo Water Corporation (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.09). The company had revenue of $74.80 million during the quarter, compared to analyst estimates of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 42.49%. The business’s revenue for the quarter was up 117.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share.
PRMW has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, B. Riley reiterated a “buy” rating and set a $17.50 price target on shares of Primo Water Corporation in a research report on Sunday, August 13th. 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. Primo Water Corporation currently has an average rating of “Hold” and an average target price of $17.38.
Shares of Primo Water Corporation (NASDAQ:PRMW) remained flat at $11.08 during mid-day trading on Friday. 132,303 shares of the company’s stock were exchanged. The company’s market cap is $330.94 million. Primo Water Corporation has a 12 month low of $10.47 and a 12 month high of $15.39. The stock has a 50 day moving average of $11.24 and a 200 day moving average of $12.06.
In related news, Director Malcolm Mcquilkin sold 16,062 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $11.66, for a total transaction of $187,282.92. Following the sale, the director now owns 105,345 shares of the company’s stock, valued at $1,228,322.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Billy D. Prim sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the sale, the insider now directly owns 1,980,927 shares in the company, valued at approximately $24,088,072.32. The disclosure for this sale can be found here. Insiders have sold 1,040,858 shares of company stock worth $12,639,169 in the last three months. 15.80% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of PRMW. HighTower Advisors LLC boosted its stake in Primo Water Corporation by 2.9% during the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after acquiring an additional 300 shares in the last quarter. SG Americas Securities LLC bought a new stake in Primo Water Corporation during the first quarter worth about $147,000. US Bancorp DE boosted its stake in Primo Water Corporation by 23.0% during the second quarter. US Bancorp DE now owns 12,159 shares of the company’s stock worth $155,000 after acquiring an additional 2,275 shares in the last quarter. Citadel Advisors LLC bought a new stake in Primo Water Corporation during the first quarter worth about $156,000. Finally, Thompson Davis & CO. Inc. bought a new stake in Primo Water Corporation during the second quarter worth about $159,000. 63.03% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Analysts Expect Primo Water Corporation (PRMW) Will Post Quarterly Sales of $77.60 Million” was first reported by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/28/analysts-expect-primo-water-corporation-prmw-will-post-quarterly-sales-of-77-60-million.html.
Primo Water Corporation Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Primo Water Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water Corporation and related companies with MarketBeat.com's FREE daily email newsletter.