Zacks: Brokerages Anticipate Primo Water Corporation (PRMW) Will Post Earnings of $0.02 Per Share

Brokerages predict that Primo Water Corporation (NASDAQ:PRMW) will announce $0.02 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Primo Water Corporation’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.03. Primo Water Corporation reported earnings per share of ($0.39) in the same quarter last year, which would indicate a positive year over year growth rate of 105.1%. The company is scheduled to announce its next earnings report on Wednesday, March 21st.

On average, analysts expect that Primo Water Corporation will report full year earnings of ($0.26) per share for the current year, with EPS estimates ranging from ($0.29) to ($0.24). For the next fiscal year, analysts forecast that the business will post earnings of $0.32 per share, with EPS estimates ranging from $0.28 to $0.37. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Primo Water Corporation.

A number of brokerages have recently weighed in on PRMW. B. Riley restated a “buy” rating and set a $17.50 price objective on shares of Primo Water Corporation in a research report on Monday, August 7th. Zacks Investment Research upgraded Primo Water Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, November 10th. ValuEngine lowered Primo Water Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Barrington Research raised their price objective on Primo Water Corporation from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Primo Water Corporation has an average rating of “Hold” and a consensus price target of $17.10.

In related news, Director Malcolm Mcquilkin sold 11,082 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $11.86, for a total value of $131,432.52. Following the completion of the transaction, the director now owns 126,042 shares of the company’s stock, valued at approximately $1,494,858.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 40,858 shares of company stock valued at $479,169. 15.80% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its holdings in shares of Primo Water Corporation by 2.9% in the 1st quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock valued at $145,000 after acquiring an additional 300 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Primo Water Corporation by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock valued at $570,000 after acquiring an additional 800 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Primo Water Corporation by 7.5% in the 1st quarter. American International Group Inc. now owns 13,052 shares of the company’s stock valued at $177,000 after acquiring an additional 910 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Primo Water Corporation by 1.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 129,086 shares of the company’s stock valued at $1,639,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Primo Water Corporation by 16.5% in the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock valued at $182,000 after acquiring an additional 2,028 shares during the last quarter. 63.13% of the stock is owned by hedge funds and other institutional investors.

Shares of Primo Water Corporation (PRMW) traded down $0.07 during trading on Wednesday, hitting $12.83. The stock had a trading volume of 89,256 shares, compared to its average volume of 206,030. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. Primo Water Corporation has a 52-week low of $10.47 and a 52-week high of $15.39.

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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).

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

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