Analysts predict that Primo Water Co. (NASDAQ:PRMW) will post $69.61 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Primo Water’s earnings, with estimates ranging from $68.41 million to $70.53 million. Primo Water posted sales of $40.36 million in the same quarter last year, which suggests a positive year over year growth rate of 72.5%. The firm is expected to report its next quarterly earnings report on Wednesday, March 21st.
On average, analysts expect that Primo Water will report full year sales of $69.61 million for the current financial year, with estimates ranging from $286.17 million to $288.29 million. For the next financial year, analysts anticipate that the business will report sales of $302.51 million per share, with estimates ranging from $300.21 million to $304.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Primo Water.
A number of equities research analysts recently weighed in on the company. BidaskClub cut Primo Water from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Barrington Research upped their price objective on Primo Water from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. ValuEngine cut Primo Water from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Primo Water from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, B. Riley restated a “buy” rating and set a $17.50 price objective on shares of Primo Water in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.10.
Institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors raised its stake in Primo Water by 17.1% in the second quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock valued at $182,000 after buying an additional 2,097 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Primo Water by 16.5% in the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after purchasing an additional 2,028 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Primo Water in the second quarter worth about $218,000. Thompson Davis & CO. Inc. raised its stake in shares of Primo Water by 70.0% in the third quarter. Thompson Davis & CO. Inc. now owns 21,250 shares of the company’s stock worth $252,000 after purchasing an additional 8,750 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Primo Water by 20.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock worth $267,000 after purchasing an additional 3,625 shares during the last quarter. Institutional investors own 68.44% of the company’s stock.
Shares of Primo Water (PRMW) opened at $12.20 on Monday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.82 and a current ratio of 0.99. The firm has a market capitalization of $366.18, a price-to-earnings ratio of -17.68, a P/E/G ratio of 3.85 and a beta of -0.32. Primo Water has a 12 month low of $10.47 and a 12 month high of $15.29.
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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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