Brokers Issue Forecasts for Primo Water Q3 Earnings

Primo Water Co. (NYSE:PRMW - Free Report) - Investment analysts at William Blair issued their Q3 2024 earnings per share estimates for shares of Primo Water in a research report issued to clients and investors on Tuesday, November 5th. William Blair analyst J. Andersen expects that the company will post earnings of $0.26 per share for the quarter. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Primo Water's current full-year earnings is $0.88 per share. William Blair also issued estimates for Primo Water's Q4 2024 earnings at $0.18 EPS.

Primo Water (NYSE:PRMW - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $485.00 million for the quarter, compared to analysts' expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reissued an "outperform" rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Raymond James downgraded shares of Primo Water from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Primo Water from a "buy" rating to a "hold" rating in a research report on Sunday, October 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Primo Water has a consensus rating of "Moderate Buy" and an average target price of $25.83.

Primo Water Stock Down 0.9 %

Shares of NYSE PRMW traded down $0.23 during mid-day trading on Friday, reaching $24.21. The company had a trading volume of 8,881,917 shares, compared to its average volume of 1,309,117. The stock has a market capitalization of $3.88 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06. The stock's 50 day moving average is $25.27 and its 200-day moving average is $22.77.

Primo Water Dividend Announcement

The business also recently disclosed a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water's payout ratio is presently 22.78%.

Institutional Trading of Primo Water

Several large investors have recently added to or reduced their stakes in PRMW. Caldwell Investment Management Ltd. acquired a new stake in Primo Water during the 3rd quarter valued at $6,172,000. Natixis Advisors LLC lifted its position in Primo Water by 3.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,401 shares of the company's stock worth $616,000 after buying an additional 852 shares in the last quarter. Royce & Associates LP acquired a new position in Primo Water during the 3rd quarter worth about $4,220,000. Plato Investment Management Ltd acquired a new stake in Primo Water in the 3rd quarter valued at about $392,000. Finally, Hiddenite Capital Partners LP increased its position in Primo Water by 50.0% in the 3rd quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the company's stock valued at $3,788,000 after acquiring an additional 50,000 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Water Company Profile

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.