Brokers Offer Predictions for Primo Water Corporation’s FY2017 Earnings (NASDAQ:PRMW)

Primo Water Corporation (NASDAQ:PRMW) – Analysts at Barrington Research reduced their FY2017 earnings estimates for shares of Primo Water Corporation in a research report issued to clients and investors on Wednesday. Barrington Research analyst M. Petusky now anticipates that the company will post earnings of ($0.26) per share for the year, down from their previous estimate of ($0.17). Barrington Research has a “Outperform” rating and a $17.00 price target on the stock. Barrington Research also issued estimates for Primo Water Corporation’s Q4 2017 earnings at $0.04 EPS, Q1 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.09 EPS and FY2019 earnings at $0.48 EPS.

A number of other analysts have also commented on the stock. ValuEngine upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Primo Water Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. BidaskClub upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Primo Water Corporation in a research note on Friday, June 9th. Finally, B. Riley reiterated a “buy” rating and issued a $17.50 price target on shares of Primo Water Corporation in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.10.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://transcriptdaily.com/2017/08/13/brokers-offer-predictions-for-primo-water-corporations-fy2017-earnings-nasdaqprmw.html.

Primo Water Corporation (NASDAQ PRMW) opened at 12.66 on Friday. The company’s market capitalization is $377.83 million. Primo Water Corporation has a 52-week low of $10.74 and a 52-week high of $15.39. The stock’s 50 day moving average is $12.67 and its 200-day moving average is $13.05.

Primo Water Corporation (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.09. Primo Water Corporation had a negative return on equity of 42.49% and a negative net margin of 11.15%. The firm had revenue of $74.80 million during the quarter, compared to the consensus estimate of $73.20 million. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 117.4% on a year-over-year basis.

In other news, insider Camden Partners Strategic Fund sold 7,985 shares of Primo Water Corporation stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total value of $107,797.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 2,750 shares of company stock valued at $30,050 over the last quarter. Company insiders own 15.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PRMW. William Blair Investment Management LLC acquired a new stake in shares of Primo Water Corporation during the second quarter valued at about $7,010,000. Elk Creek Partners LLC acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $7,216,000. Eagle Asset Management Inc. acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $5,373,000. Royce & Associates LP acquired a new stake in shares of Primo Water Corporation during the first quarter valued at about $2,167,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Primo Water Corporation by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock valued at $6,988,000 after buying an additional 130,127 shares during the period. Institutional investors own 58.01% of the company’s stock.

About Primo Water Corporation

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).

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

Receive News & Ratings for Primo Water Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply