Primo Brands (PRMB) Projected to Post Earnings on Thursday

Primo Brands (NYSE:PRMB) is projected to issue its results before the market opens on Thursday, November 6th. Analysts expect the company to announce earnings of $0.41 per share and revenue of $1.7776 billion for the quarter. Primo Brands has set its FY 2025 guidance at EPS.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.83 billion. Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The company’s revenue was up 31.6% on a year-over-year basis.

Primo Brands Trading Down 3.6%

Shares of NYSE:PRMB opened at $21.51 on Thursday. The stock has a 50 day moving average of $23.08 and a 200 day moving average of $27.60. The company has a market cap of $8.03 billion, a PE ratio of -195.50, a price-to-earnings-growth ratio of 0.61 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. Primo Brands has a 12-month low of $21.37 and a 12-month high of $35.85.

Primo Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, August 21st. Primo Brands’s payout ratio is currently -363.64%.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, Director Michael John Cramer acquired 4,000 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $24.46 per share, with a total value of $97,840.00. Following the transaction, the director directly owned 12,762 shares of the company’s stock, valued at $312,158.52. The trade was a 45.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robbert Rietbroek acquired 8,285 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $24.12 per share, for a total transaction of $199,834.20. Following the transaction, the chief executive officer directly owned 586,349 shares in the company, valued at $14,142,737.88. The trade was a 1.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 24,685 shares of company stock valued at $595,770 in the last quarter. 58.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Primo Brands

Several hedge funds have recently modified their holdings of PRMB. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Primo Brands in the 1st quarter worth approximately $229,000. Caxton Associates LLP purchased a new position in shares of Primo Brands in the 1st quarter worth approximately $266,000. American Century Companies Inc. grew its position 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 buying an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Primo Brands by 797.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock worth $1,617,000 after buying an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Primo Brands by 29.1% in 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. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Primo Brands in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 price target on shares of Primo Brands in a research report on Friday, August 8th. TD Securities dropped their price target on Primo Brands from $48.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada dropped their price target on Primo Brands from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Finally, The Goldman Sachs Group assumed coverage on Primo Brands in a research report on Thursday, September 11th. They issued a “neutral” rating and a $25.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Primo Brands has an average rating of “Moderate Buy” and a consensus price target of $33.58.

About Primo Brands

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.