Brokerages Anticipate Primo Water Co. (PRMW) Will Post Quarterly Sales of $69.61 Million

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.

In other Primo Water news, CFO Mark Castaneda sold 6,200 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.45, for a total value of $83,390.00. Following the completion of the sale, the chief financial officer now directly owns 236,113 shares in the company, valued at $3,175,719.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David L. Warnock sold 33,226 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $12.37, for a total value of $411,005.62. Following the completion of the sale, the director now owns 25,157 shares of the company’s stock, valued at $311,192.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,295 shares of company stock valued at $1,636,440. 15.80% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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