Analysts Set Expectations for Primo Water Q3 Earnings

Primo Water Co. (NYSE:PRMW) – Analysts at William Blair issued their Q3 2024 earnings estimates for Primo Water in a research report issued on Tuesday, November 5th. William Blair analyst J. Andersen expects that the company will post earnings per share of $0.26 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.

Several other brokerages have also issued reports on PRMW. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a 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 upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Trading Down 0.9 %

Shares of Primo Water stock opened at $24.21 on Friday. The firm has a market capitalization of $3.88 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The company’s fifty day moving average price is $25.32 and its two-hundred day moving average price is $22.81. Primo Water has a 52-week low of $14.06 and a 52-week high of $28.06.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Primo Water’s revenue was up 7.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new stake in shares of Primo Water in the 1st quarter valued at about $874,000. Global Alpha Capital Management Ltd. increased its stake in shares of Primo Water by 13.5% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 127,000 shares of the company’s stock valued at $2,313,000 after acquiring an additional 15,100 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Primo Water by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock valued at $512,000 after acquiring an additional 2,215 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Primo Water by 108.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock worth $1,748,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in Primo Water during the 1st quarter worth approximately $6,792,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Announces Dividend

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

About Primo Water

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.