FY2021 EPS Estimates for Primo Water Co. (NASDAQ:PRMW) Raised by Analyst

Primo Water Co. (NASDAQ:PRMW) – Research analysts at Barrington Research raised their FY2021 EPS estimates for Primo Water in a report released on Wednesday, June 26th, according to Zacks Investment Research. Barrington Research analyst M. Petusky now expects that the company will post earnings per share of $0.62 for the year, up from their previous forecast of $0.60. Barrington Research has a “Buy” rating and a $18.00 price target on the stock. Barrington Research also issued estimates for Primo Water’s FY2022 earnings at $0.75 EPS and FY2023 earnings at $0.90 EPS.

Several other analysts have also recently issued reports on the stock. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Imperial Capital reissued an “outperform” rating and set a $18.00 price target (down previously from $20.00) on shares of Primo Water in a research report on Tuesday, June 18th. ValuEngine cut shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Zacks Investment Research raised shares of HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of Primo Water in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Primo Water currently has an average rating of “Buy” and a consensus price target of $19.33.

Shares of PRMW traded up $0.15 during mid-day trading on Thursday, hitting $13.76. 360,700 shares of the company’s stock were exchanged, compared to its average volume of 287,169. The company has a market capitalization of $534.59 million, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 3.17 and a beta of 0.71. Primo Water has a fifty-two week low of $10.70 and a fifty-two week high of $20.72. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.70 and a current ratio of 0.99. The company has a 50-day moving average of $12.66.

Primo Water (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The business had revenue of $70.05 million for the quarter, compared to analyst estimates of $70.00 million. Primo Water had a positive return on equity of 11.15% and a negative net margin of 19.21%.

A number of large investors have recently modified their holdings of the stock. Van Hulzen Asset Management LLC acquired a new stake in Primo Water during the fourth quarter worth approximately $478,000. William Blair Investment Management LLC raised its holdings in Primo Water by 24.9% during the first quarter. William Blair Investment Management LLC now owns 1,527,266 shares of the company’s stock worth $23,612,000 after purchasing an additional 304,083 shares in the last quarter. Mackay Shields LLC raised its holdings in Primo Water by 27.4% during the fourth quarter. Mackay Shields LLC now owns 101,145 shares of the company’s stock worth $1,417,000 after purchasing an additional 21,745 shares in the last quarter. Rhumbline Advisers raised its holdings in Primo Water by 58.6% during the fourth quarter. Rhumbline Advisers now owns 42,659 shares of the company’s stock worth $598,000 after purchasing an additional 15,768 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Primo Water during the first quarter worth approximately $4,509,000. 84.96% of the stock is currently owned by hedge funds and other institutional investors.

About Primo Water

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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Earnings History and Estimates for Primo Water (NASDAQ:PRMW)

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