Primo Water Co. (NASDAQ:PRMW) – Equities researchers at B. Riley issued their Q2 2020 earnings per share (EPS) estimates for Primo Water in a research note issued to investors on Wednesday, November 6th. B. Riley analyst K. Anderson anticipates that the company will post earnings of $0.10 per share for the quarter. B. Riley has a “Buy” rating and a $18.00 price objective on the stock. B. Riley also issued estimates for Primo Water’s Q3 2020 earnings at $0.14 EPS and Q4 2020 earnings at $0.06 EPS.
Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Primo Water from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. ValuEngine downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets set a $19.00 price objective on shares of Primo Water and gave the stock a “buy” rating in a report on Wednesday, July 31st. Northland Securities set a $17.00 price objective on shares of Primo Water and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Lake Street Capital downgraded shares of Primo Water from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $18.00 to $14.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $16.33.
Shares of NASDAQ PRMW traded down $0.19 during trading hours on Friday, hitting $10.56. 430,100 shares of the stock were exchanged, compared to its average volume of 294,953. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.99 and a quick ratio of 0.71. The company’s 50 day moving average is $12.12 and its 200 day moving average is $12.74. The firm has a market capitalization of $483.56 million, a P/E ratio of 31.06, a P/E/G ratio of 3.91 and a beta of 0.78. Primo Water has a one year low of $10.07 and a one year high of $16.35.
Primo Water (NASDAQ:PRMW) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $79.30 million for the quarter, compared to the consensus estimate of $78.01 million. Primo Water had a return on equity of 7.19% and a net margin of 1.29%. Primo Water’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.
In related news, Director Susan E. Cates purchased 5,000 shares of Primo Water stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $12.23 per share, with a total value of $61,150.00. Following the acquisition, the director now directly owns 28,968 shares in the company, valued at $354,278.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 10.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in Primo Water by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 53,205 shares of the company’s stock valued at $654,000 after purchasing an additional 853 shares during the period. US Bancorp DE boosted its holdings in Primo Water by 8.0% in the 2nd quarter. US Bancorp DE now owns 16,751 shares of the company’s stock valued at $206,000 after purchasing an additional 1,237 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Primo Water by 176.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock valued at $25,000 after purchasing an additional 1,335 shares during the period. Boston Partners bought a new stake in Primo Water in the 2nd quarter valued at $28,000. Finally, Usca Ria LLC bought a new stake in Primo Water in the 3rd quarter valued at $31,000. 89.39% of the stock is owned by hedge funds and other institutional investors.
Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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