Primo Brands (PRMB) to Release Quarterly Earnings on Thursday

Primo Brands (NYSE:PRMB) is projected to release its results before the market opens on Thursday, February 26th. Analysts expect Primo Brands to post earnings of $0.22 per share and revenue of $1.5150 billion for the quarter.

Primo Brands Stock Performance

Shares of Primo Brands stock opened at $18.59 on Thursday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -59.95, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. Primo Brands has a 12 month low of $14.36 and a 12 month high of $35.85. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.02 and a quick ratio of 0.86. The business has a 50-day moving average of $17.85 and a 200 day moving average of $20.11.

Primo Brands announced that its Board of Directors has authorized a stock repurchase program on Monday, November 10th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of Primo Brands from $37.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. BMO Capital Markets restated an “outperform” rating and issued a $35.00 price target on shares of Primo Brands in a research note on Friday, January 23rd. The Goldman Sachs Group lowered their target price on Primo Brands from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Barclays dropped their price objective on Primo Brands from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Finally, Mizuho dropped their price target on shares of Primo Brands from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, January 8th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

Institutional Investors Weigh In On Primo Brands

A number of institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Primo Brands in the first quarter worth about $229,000. Caxton Associates LLP acquired a new stake in shares of Primo Brands during the 1st quarter worth approximately $266,000. American Century Companies Inc. lifted its holdings in shares of Primo Brands by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock worth $806,000 after purchasing an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Primo Brands by 797.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after purchasing an additional 48,509 shares during the period. Finally, Invesco Ltd. grew its stake in Primo Brands by 29.1% during the 2nd quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock worth $8,931,000 after buying an additional 67,930 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Primo Brands

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.