Primo Water (PRMW) Stock Price, News & Analysis

Company Overview

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, Renü, Canadian Springs, Labrador Source, and Amazon Springs brands. It sells its products through retailers and online at various price points. The company was formerly known as Cott Corporation and changed its name to Primo Water Corporation in March 2020. Primo Water Corporation was incorporated in 1955 and is based in Tampa, Florida.

Key Stats

• Today's Range: $23.64 to $26.02
• 50-Day Range: $24.21 to $27.94
• 52-Week Range: $14.06 to $28.06
• Volume: 11.42 million shs
• Average Volume: 1.32 million shs
• Market Capitalization: $3.88 billion
• P/E Ratio: 15.04
• Dividend Yield: 1.49%
• Price Target: $25.83
• Consensus Rating: Moderate Buy

Primo Water Stock Analysis - MarketRank™

Primo Water scored higher than 64% of companies evaluated by MarketBeat, and ranked 61st out of 92 stocks in the utilities sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Primo Water has received a consensus rating of Moderate Buy. The company's average rating score is 2.67, and is based on 4 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Primo Water has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: -2.27%

Earnings Growth

Earnings for Primo Water are expected to decrease by -2.27% in the coming year, from $0.88 to $0.86 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Primo Water is 15.04, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 118.45.

Price to Earnings Ratio vs. Sector

The P/E ratio of Primo Water is 15.04, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 102.03.

Price to Earnings Growth Ratio

Primo Water has a PEG Ratio of 1.78. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Primo Water has a P/B Ratio of 2.70. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.85% of the float of Primo Water has been sold short.

Short Interest Ratio / Days to Cover

Primo Water has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Primo Water has recently increased by 27.87%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Primo Water pays a meaningful dividend of 1.49%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Primo Water does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Primo Water is 22.36%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Primo Water will have a dividend payout ratio of 41.86% next year. This indicates that Primo Water will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 1.9 / 5
• Environmental Score: -2.33

Percentage of Shares Shorted

2.85% of the float of Primo Water has been sold short.

Short Interest Ratio / Days to Cover

Primo Water has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Primo Water has recently increased by 27.87%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.8 / 5
• News Sentiment: 0.31

News Sentiment

Primo Water has a news sentiment score of 0.31. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.71 average news sentiment score of Utilities companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Primo Water this week, compared to 4 articles on an average week.

MarketBeat Follows

3 people have added Primo Water to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Primo Water insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 4.40% of the stock of Primo Water is held by insiders.

Percentage Held by Institutions

87.71% of the stock of Primo Water is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PRMW Stock Analysis - Frequently Asked Questions

How have PRMW shares performed this year?

Primo Water's stock was trading at $15.05 on January 1st, 2024. Since then, PRMW shares have increased by 60.9% and is now trading at $24.21.
View the best growth stocks for 2024 here.

How were Primo Water's earnings last quarter?

Primo Water Co. (NYSE:PRMW) announced its quarterly earnings results on Thursday, August, 8th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company's revenue was up 7.7% compared to the same quarter last year.

Who are Primo Water's major shareholders?

Primo Water's top institutional investors include FMR LLC (10.87%), Allspring Global Investments Holdings LLC (2.38%), State Street Corp (1.90%) and Skye Global Management LP (1.38%). Insiders that own company stock include Jeremy S G Fowden, Billy D Prim, Steven P Stanbrook and Jay Wells.
View institutional ownership trends.

How do I buy shares of Primo Water?

Shares of PRMW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Primo Water own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Primo Water investors own include Chipotle Mexican Grill (CMG), NVIDIA (NVDA), Meta Platforms (META), Tesla (TSLA), Advanced Micro Devices (AMD), Exxon Mobil (XOM) and JPMorgan Chase & Co. (JPM).

Company Calendar

• Last Earnings: 8/08/2024
• Ex-Dividend for 9/5 Dividend: 8/22/2024
• Dividend Payable: 9/05/2024
• Ex-Dividend for 11/21 Dividend: 11/05/2024
• Dividend Payable: 11/21/2024
• Today: 11/23/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/27/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Utilities
• Industry: Bottled & canned soft drinks
• Sub-Industry: Candy & Soda
• Current Symbol: NYSE:PRMW
• CUSIP: N/A
• CIK: 884713
• Web: primowatercorp.com
• Phone: 813-544-8515
• Fax: 813-881-1926
• Employees: 6,400
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $25.83
• High Stock Price Target: $32.00
• Low Stock Price Target: $20.00
• Potential Upside/Downside: +6.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.67
• Research Coverage: 6 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.61
• Trailing P/E Ratio: 15.04
• Forward P/E Ratio: 27.51
• P/E Growth: 1.78
• Net Income: $238.10 million
• Net Margins: 13.63%
• Pretax Margin: 6.05%
• Return on Equity: 8.80%
• Return on Assets: 3.62%

Debt

• Debt-to-Equity Ratio: 0.86
• Current Ratio: 2.18
• Quick Ratio: 2.07

Sales & Book Value

• Annual Sales: $1.77 billion
• Price / Sales: 2.19
• Cash Flow: $1.78 per share
• Price / Cash Flow: 13.63
• Book Value: $8.96 per share
• Price / Book: 2.70

Miscellaneous

• Outstanding Shares: 160,310,000
• Free Float: 153,259,000
• Market Cap: $3.88 billion
• Optionable: Optionable
• Beta: 1.10