Primo Water Co. (NASDAQ:PRMW) – Barrington Research cut their Q1 2019 earnings per share (EPS) estimates for Primo Water in a report issued on Wednesday, November 7th. Barrington Research analyst M. Petusky now expects that the company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.07. Barrington Research has a “Buy” rating and a $20.00 price target on the stock. Barrington Research also issued estimates for Primo Water’s Q3 2019 earnings at $0.21 EPS.
Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $81.80 million during the quarter, compared to the consensus estimate of $83.26 million. Primo Water had a negative net margin of 17.88% and a positive return on equity of 10.19%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share.
A number of other research analysts also recently commented on PRMW. Zacks Investment Research raised shares of Primo Water from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, July 12th. BMO Capital Markets lifted their price objective on shares of Primo Water from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. Finally, BidaskClub raised shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Primo Water presently has a consensus rating of “Hold” and an average price target of $19.50.
Shares of PRMW opened at $14.38 on Friday. Primo Water has a one year low of $11.16 and a one year high of $20.72. The stock has a market capitalization of $669.85 million, a PE ratio of -51.36, a PEG ratio of 3.90 and a beta of 0.61. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.24.
In other news, Director Charles A. Norris sold 25,000 shares of Primo Water stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $20.41, for a total value of $510,250.00. Following the completion of the transaction, the director now owns 167,556 shares of the company’s stock, valued at approximately $3,419,817.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Norris sold 43,454 shares of Primo Water stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $19.74, for a total transaction of $857,781.96. Following the completion of the transaction, the director now directly owns 4,282 shares of the company’s stock, valued at approximately $84,526.68. The disclosure for this sale can be found here. In the last three months, insiders sold 243,509 shares of company stock valued at $4,895,288. Insiders own 13.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PRMW. BlackRock Inc. lifted its stake in shares of Primo Water by 5.6% during the 1st quarter. BlackRock Inc. now owns 1,462,268 shares of the company’s stock worth $17,123,000 after buying an additional 77,326 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Primo Water by 16.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 793,187 shares of the company’s stock worth $9,288,000 after buying an additional 110,186 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Primo Water by 3.2% during the 1st quarter. Allianz Asset Management GmbH now owns 247,576 shares of the company’s stock worth $2,899,000 after buying an additional 7,649 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Primo Water by 5,864.6% during the 2nd quarter. Bank of Montreal Can now owns 11,452 shares of the company’s stock worth $200,000 after buying an additional 11,260 shares during the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Primo Water during the 2nd quarter worth about $208,000. 74.07% of the stock is owned by institutional investors.
Primo Water Company Profile
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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