Primo Water Co. (NYSE:PRMW – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.83.
Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. TD Securities increased their price target on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. Finally, CIBC raised their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th.
Read Our Latest Stock Analysis on Primo Water
Primo Water Stock Performance
Primo Water (NYSE:PRMW – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Analysts predict that Primo Water will post 0.87 earnings per share for the current fiscal year.
Primo Water Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.41%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.
Institutional Investors Weigh In On Primo Water
Several institutional investors have recently bought and sold shares of PRMW. Cedar Wealth Management LLC bought a new stake in Primo Water in the first quarter valued at approximately $27,000. CWM LLC raised its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Primo Water during the 1st quarter valued at $66,000. Clearstead Trust LLC bought a new stake in Primo Water in the 2nd quarter worth $109,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Primo Water in the second quarter valued at about $151,000. 87.71% of the stock is currently owned by hedge funds and other 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.
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