Primo Water Co. (NASDAQ:PRMW) – Research analysts at Barrington Research dropped their Q2 2019 EPS estimates for shares of Primo Water in a research report issued on Tuesday, January 8th. Barrington Research analyst M. Petusky now expects that the company will post earnings per share of $0.10 for the quarter, down from their prior forecast of $0.11. Barrington Research has a “Buy” rating and a $20.00 price target on the stock.
Primo Water (NASDAQ:PRMW) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.31%. The company had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.26 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. Primo Water’s quarterly revenue was down .5% on a year-over-year basis.
Several other brokerages have also recently issued reports on PRMW. BidaskClub cut shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. B. Riley reduced their price target on shares of Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Zacks Investment Research cut shares of Primo Water from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. BMO Capital Markets reduced their price target on shares of Primo Water from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Saturday, December 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Primo Water currently has an average rating of “Buy” and an average target price of $19.20.
Shares of NASDAQ PRMW opened at $14.54 on Thursday. Primo Water has a 1 year low of $11.16 and a 1 year high of $20.72. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.73 and a current ratio of 0.94. The stock has a market cap of $574.94 million, a P/E ratio of -51.93, a P/E/G ratio of 2.52 and a beta of 0.58.
Large investors have recently bought and sold shares of the company. Federated Investors Inc. PA lifted its position in Primo Water by 229.7% during the third quarter. Federated Investors Inc. PA now owns 1,375 shares of the company’s stock valued at $25,000 after purchasing an additional 958 shares during the period. Legal & General Group Plc lifted its position in Primo Water by 24.3% during the third quarter. Legal & General Group Plc now owns 4,917 shares of the company’s stock valued at $89,000 after purchasing an additional 962 shares during the period. Paloma Partners Management Co bought a new position in Primo Water during the second quarter valued at approximately $214,000. IFG Advisory LLC bought a new position in Primo Water during the third quarter valued at approximately $225,000. Finally, Wakefield Asset Management LLLP bought a new position in Primo Water during the third quarter valued at approximately $240,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.
In other Primo Water news, VP Michael Cauthen sold 1,859 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $14.53, for a total value of $27,011.27. Following the sale, the vice president now owns 5,456 shares in the company, valued at $79,275.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.50% of the stock is currently owned by corporate insiders.
About Primo Water
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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